According to WSJ, the relationship between Howard Lutnick, Chairman of Wall Street trading firm Cantor Fitzgerald and advisor to President Trump’s transition team, and stablecoin giant Tether has raised concerns. Sources reveal that Cantor Fitzgerald is expected to acquire about 5% ownership in Tether, the world’s largest stablecoin issuer. Giancarlo Devasini, the owner of Tether and a former plastic surgeon, reportedly mentioned earlier this year that Lutnick would leverage his political influence to mitigate the threats facing Tether. Cantor Fitzgerald is currently one of Tether's most important banking partners, handling the company’s transactions worth billions of dollars each month. Tether is currently facing regulatory scrutiny, and Lutnick, as a potential candidate for Trump’s Secretary of Commerce, may influence the future direction of cryptocurrency policy due to his close business ties with Tether.
