BlockBeats reported on November 24 that Howard Lutnick is planning to strengthen alliances with one of the most important and controversial companies in the digital asset industry—Tether Holdings Ltd.
According to insiders, Lutnick is negotiating with Tether to deepen the financial cooperation between his companies and the firm behind the world's largest stablecoin.
Cantor Fitzgerald LP is in discussions with Tether, seeking its support to advance a plan aimed at providing billions of dollars in loans to clients using Bitcoin as collateral. These insiders said they requested anonymity due to not being authorized to speak publicly.
The project's funding will start at $2 billion, with expectations to eventually reach hundreds of billions, another insider told Bloomberg.
Tether currently holds billions of dollars in U.S. Treasury bonds through Cantor's custody business, which underpins the value of its dominant USDT stablecoin. According to insiders, this custody relationship generates tens of millions of dollars in annual revenue for Cantor.
Lutnick is the co-chairman of the transition team for U.S. President-elect Donald Trump and was selected by Trump as a candidate to head the U.S. Department of Commerce.
