The financial services company Cantor Fitzgerald has purchased shares of the USDT stablecoin issuer Tether for $600 million.
Cantor Fitzgerald is the main banking partner of Tether and holds the lion's share of the assets that ensure the stability of the USDT exchange rate. However, as noted by Nate Geraci, president of the consulting firm ETF Store, the collaboration between the organizations does not end there, as Cantor Fitzgerald owns 5% of Tether's securities, valued at $600 million.
Notably, Cantor Fitzgerald's CEO Howard Lutnick will take the position of Secretary of Commerce when Donald Trump returns to the White House. This fact plays in favor of the USDT issuer because, according to Giancarlo Devasini, who is considered the main shareholder of Tether, "Lutnick uses his political influence to eliminate threats looming over Tether."
