TechFlow news, on November 24, according to The Wall Street Journal, the relationship between Howard Lutnick, chairman of Wall Street trading firm Cantor Fitzgerald and adviser to Trump's presidential transition team, and stablecoin giant Tether has drawn attention. Sources said that within the past year, Cantor Fitzgerald reached an investment agreement with Tether, acquiring approximately 5% ownership stakes. Howard Lutnick, CEO of Cantor, and Paolo Ardoini, CTO of Tether, have confirmed the matter to business partners. According to these partners, Cantor values its stake at up to $600 million, implying a total valuation of Tether at around $12 billion.
Additionally, Giancarlo Devasini, Tether's owner and former plastic surgeon, privately indicated earlier this year that Lutnick would use his political influence to help mitigate threats facing Tether. Currently, Cantor Fitzgerald is one of Tether's most important banking partners, handling billions of dollars in transactions for the company each month. Tether is currently under regulatory scrutiny, and Lutnick’s close business ties with Tether—given his potential nomination as Commerce Secretary under a Trump administration—could influence future U.S. cryptocurrency policy directions.
