Golden Finance reports that a spokesperson for Tether stated: "The relationship between Tether and Cantor Fitzgerald is purely a business relationship based on reserve management. The claim that Howard Lutnick has joined the transition team implies some degree of influence over regulatory actions is nonsensical." Lutnick stated on Wednesday that he will resign from Cantor, BGC, and Newmark after Senate approval, saying in a statement: "I intend to divest my interests in these companies to comply with the ethical standards of the U.S. government and do not expect any arrangements involving the sale of stock in the public market." Cantor Fitzgerald CEO and major shareholder Howard Lutnick served as co-chair of President-elect Trump's transition team and has recently been nominated as Secretary of Commerce. Earlier today, according to WSJ, Tether's CFO Giancarlo Devasini privately stated earlier this year that Howard Lutnick would leverage his political influence to try to mitigate the threats facing Tether.
