PANews, December 13 - According to Protos, Cantor Fitzgerald, a broker associated with Tether, has reached a settlement agreement with the U.S. Securities and Exchange Commission (SEC), paying a fine of $6.75 million. The SEC accused its two special purpose acquisition companies (SPACs) of making misleading statements to investors prior to their IPO, raising $750 million. Cantor Fitzgerald did not admit or deny these allegations.
In addition, the association between Cantor Fitzgerald and Tether has raised concerns. It holds a 5% stake in Tether, valued at up to $600 million, and manages most of Tether's $134 billion in assets, charging tens of millions in fees. CEO Howard Lutnick will lead the Department of Commerce under the Trump administration and has served as co-chair of the Trump transition team.