Howard Lutnick is in talks with Tether to deepen financial cooperation between his companies and the company behind the world’s largest stablecoin. Cantor Fitzgerald LP is in discussions with Tether, seeking its support to advance a plan to provide billions of dollars in loans to customers who use Bitcoin as collateral.
The funding for the project will start at $2 billion and is expected to eventually reach tens of billions of dollars. Tether currently holds billions of dollars in U.S. Treasuries through Cantor’s custody business, which support the value of its dominant USDT stablecoin. The hosting relationship generates tens of millions of dollars in annual revenue for Cantor.
Lutnick is a co-chair of President-elect Trump’s transition team and was Trump’s pick to run the U.S. Department of Commerce.
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<p>The post BlockBeats News: Lutnick’s Alliance with Tether Holdings Ltd. Strengthens in Digital Asset Industry. first appeared on CoinBuzzFeed.</p>
