Cantor Fitzgerald, a U.S. financial services and bond trading firm, is reportedly discussing a multibillion-dollar Bitcoin-backed lending program with the help of Tether. The proposed program would allow clients to borrow dollars using Bitcoin as collateral, initially starting with a $2 billion allotment, with the potential to expand as crypto adoption grows.
This move highlights the growing relationship between Wall Street and the crypto industry. Cantor Fitzgerald’s chief, Howard Lutnick, who was nominated as Commerce Secretary under President-elect Donald Trump, plans to divest his interests in the firm due to U.S. government ethics rules.
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