US President-elect Donald Trump continues to assemble the government team that will take office on January 20. Recently, it became known that Cantor Fitzgerald CEO Howard Lutnick will be the next Secretary of Commerce for the Republican administration. This businessman is among the supporters of Bitcoin and other cryptocurrencies.
For years, the largest cryptocurrency has been occupying spaces within traditional finance. However, 2024 was the year of the big leap, with the IPO of the currency's spot ETFs in the United States. Added to Trump's support, everything seems to indicate that the merger between the TradFi and DeFi sectors will be a consolidated fact from 2025 onwards.
In that context, the nomination of key figures like Lutnick becomes a guarantee that the environment for the crypto world will be ideal. Lutnick's financial services firm, Cantor, is among the traditional companies with the greatest support for digital currencies. In fact, during the Bitcoin 2024 Conference, Lutnick expressed words of praise for BTC.
Cantor also openly shows sympathy for crypto companies like Tether and its stablecoin USDT. The fact that this Bitcoin supporter becomes the new Secretary of Commerce of the world's largest economy shows that Trump is ready to fulfill his promises with the crypto sector.
In a post on X, Lutnick welcomed the nomination and stressed that he is ready to be part of the best government administration in US history.
Thank you, President Trump for your trust in me to help Make America Great Again. As the next Secretary of Commerce, I will join the best administration the US has ever seen and unleash our full economic potential.
A Bitcoin supporter in a key position in the Trump administration
On Wednesday, the businessman was the first to make the news public on his X account. Later, a statement from Trump confirmed the decision to make Lutnick the next Secretary of Commerce. This position is tasked with carrying out the Trump administration's trade, tariff and economic agenda.
According to the president-elect, Lutnick's ability lies in having created an efficient system of administration. According to him, this potential at the top US trade post will allow for the creation of " the greatest administration that America has ever seen . "
According to the entrepreneur himself, his job will be to unleash the full economic potential of the United States. As already mentioned, Lutnick is a committed Bitcoin supporter, which means that there will be understanding with crypto companies on this front. His vision for Bitcoin is that the government should officially declare it a commodity.
In his view, Bitcoin is like gold or oil, as he stated in a recent interview with Fox. This means that regulators should stop seeing it as a financial asset similar to stocks.
It is worth noting that Cantor Fitzgerald has been increasingly expanding its presence in the cryptocurrency sector. It has a direct relationship with the Federal Reserve and manages Tether's USDT funds.
