According to ChainCatcher, Howard Lutnick, the Commerce Secretary nominee by President-elect Trump, is exploring ways to strengthen financial ties with Tether, the world's largest stablecoin operator, planning to launch a $2 billion project to offer dollar loans to clients backed by Bitcoin.
Howard Lutnick's financial services company Cantor Fitzgerald is in discussions to secure backing from Tether to help fund a project that could amount to billions of dollars.
Tether currently holds tens of billions of U.S. Treasury bonds through Cantor's custody business, which underpins the value of its dominant USDT stablecoin. According to insiders, this custody relationship brings Cantor tens of millions of dollars in annual revenue.
