PANews reported on November 25 that crypto supporter Howard Lutnick, who was nominated by Trump for Secretary of Commerce, stated that he would resign from Cantor, BGC, and Newmark after Senate approval. Howard Lutnick currently serves as the CEO of Cantor and plans to transfer the company's Tether business relationships to a colleague, with reports suggesting that the likely candidate is his son, Brandon Lutnick.
Brandon Lutnick previously interned in Tether's Swiss operations before working at Cantor. It is said that during his internship in Lugano, he counted the gold bars supporting Tether Gold, the token backed by $660 million worth of gold.
Earlier reports indicated that Cantor Fitzgerald is in talks with Tether to launch a $2 billion Bitcoin loan project; a Tether spokesperson stated that the relationship with Cantor Fitzgerald is professional, and claims that CEO Lutnick influences regulatory actions are completely unfounded.