According to PANews, Howard Lutnick, the Secretary of Commerce nominee by President-elect Trump, is exploring strengthening financial ties with Tether and plans to launch a $2 billion project.
The project will offer dollar loans to customers secured by Bitcoin. Cantor Fitzgerald is discussing obtaining Tether's support to help fund the project, which could amount to hundreds of billions of dollars.
Tether uses U.S. Treasury bonds held by Cantor to support the value of its stablecoin, a relationship that helps Lutnick's company earn tens of millions of dollars each year.
