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 joined the transition team implies some influence on regulatory actions is nonsense." Lutnick stated on Wednesday that he would resign from Cantor, BGC, and Newmark after Senate approval, and he mentioned in a statement: "I intend to divest my interests in these companies to comply with the ethical standards of the U.S. government, and I do not expect any arrangements involving the sale of stock in the public market." Howard Lutnick, CEO and major shareholder of Cantor Fitzgerald, previously served as co-chair of President-elect Trump's transition team and was recently nominated for Secretary of Commerce. Earlier today, according to WSJ, Tether's CFO Giancarlo Devasini privately stated earlier this year that Howard Lutnick would use his political influence to attempt to resolve the threats facing Tether.