TechFlow news, on November 20, according to CoinDesk citing The Wall Street Journal, President-elect Trump plans to nominate Howard Lutnick, CEO of Cantor Fitzgerald, as Secretary of Commerce. As one of the primary dealers of the Federal Reserve, Cantor Fitzgerald has served as the custodian bank for Tether's USDT since 2021, managing its U.S. Treasury reserves. The company recently announced the establishment of a $2 billion bitcoin financing division to provide leveraged services for bitcoin investors. In a previous CNBC interview, Lutnick clearly stated: "I support cryptocurrency, but specifically, only Bitcoin. No other tokens are under consideration." He advocates classifying Bitcoin as a commodity, believing its decentralized and censorship-resistant characteristics make it superior to other crypto assets.
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