Lutnick and Tether's Cooperation: Controversy of the New Government
As Trump nominates Howard Lutnick as Secretary of Commerce, a storm is brewing in the financial world! Lutnick plans to strengthen cooperation with cryptocurrency giant Tether, with Cantor Fitzgerald acquiring a 5% stake in Tether and launching a $2 billion loan program using Bitcoin as collateral. This move will undoubtedly become a hot topic for the new government.
Cantor Fitzgerald currently manages approximately $134 billion in assets for Tether, and the potential for future collaboration is limitless. Tether's USDT stablecoin is widely used in digital asset trading, but has recently come under scrutiny for allegedly violating sanctions and anti-money laundering regulations. Lutnick is expected to leverage his political influence to actively address the challenges facing Tether.
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