a spokesperson for Tether stated: "The relationship between Tether and Cantor Fitzgerald is purely a business relationship based on managing reserves. Claims that Howard Lutnick's joining the transition team in some way implies an influence on regulatory actions are baseless."
Lutnick stated on Wednesday that, after approval by the Senate, he will resign from his positions at Cantor, BGC, and Newmark. In a statement, he said, "I intend to divest my equity interests in these companies to comply with ethical standards of the United States government and do not anticipate any arrangements involving the sale of stock in the public market."
Howard Lutnick, CEO and major shareholder of Cantor Fitzgerald, previously served as co-chair of President-elect Trump's transition team and was recently nominated as Secretary of Commerce.
Earlier today, according to a report by WSJ, Tether CFO Giancarlo Devasini privately stated earlier this year that Howard Lutnick would use his political influence to try to resolve the threats facing Tether.