Cantor Fitzgerald is reportedly in talks with Tether.
Cantor Fitzgerald is reportedly in talks with #Tether .
The company wants #USDT issuers to participate in the cryptocurrency lending business as financiers.
The financial institution has reportedly agreed to buy a 5% stake in Tether.
Cantor Fitzgerald, a global financial institution owned by Howard Lutnick, is rumored to be looking to strengthen its financial ties with Tether, one of the biggest and most controversial names in the crypto industry. 1
The rumors came 5 days after U. S. President-elect Donald Trump nominated a well-known Wall・street boss to be Secretary of Commerce in the new administration. Lutnick initially vied for the Treasury Secretary position, which later went to Scott Bessent, a hedge fund manager and ally of Trump's campaign.
December 24, Bloomberg reported that Lutnick-owned Cantor Fitzgerald discussed the possibility of receiving support from USDT issuers for its planned multi-billion dollar #bitcoin financing and lending business. The company announced the new venture at the Bitcoin 7 conference in May 2024 with initial funding of $20 billion.
A report, citing people familiar with the matter, says that funding for Cantor Fitzgerald's bitcoin business could reach "tens of billions" if the company seeks support from Tether as one of the project's many financial backers. 1
The relationship between USDT issuer and Canto Fitzgerald began in 2021, when the company began managing Tether's multi-billion-dollar Treasury portfolio in support of stable coins. In a May 1 interview with Bloomberg TV, Lutnick confirmed that Tether has "money" to support about $8.830 billion worth of USDT stable coins. Since then, according to CoinMarketCap, the USDT market has grown exponentially and now stands at over $11300 billion.
Stay tuned for more news on the XRP #ETF launch timeline:
Read us at: Compass Investments
