Howard Lutnick, Trump's nominee for Commerce Secretary, said he would resign from Cantor Fitzgerald, BGC and Newmark after Senate approval, Foresight News reported.
Howard Lutnick plans to hand over the firm’s Tether business relationship to a colleague, and a possible candidate could be his son, Brandon Lutnick, who interned at Tether’s Swiss operations and currently works at Cantor Fitzgerald.
Sources revealed that Cantor Fitzgerald is seeking Tether's support for a multi-billion dollar lending program that would allow clients to borrow dollars using Bitcoin as collateral, with an initial capital of $2 billion and expected to expand to tens of billions of dollars.
