TechFlow news, November 24 — According to The Block, a spokesperson for Tether stated: "Tether's relationship with Cantor Fitzgerald is purely professional and based on reserve management. Claims that Howard Lutnick joining the transition team implies any influence over regulatory actions are baseless."
On Wednesday, Lutnick said he would step down from his positions at Cantor, BGC, and Newmark following Senate confirmation. In a statement, he added: "I intend to divest my interests in these companies to comply with U.S. government ethics rules and do not anticipate any arrangements involving the public sale of stock."
Earlier report, The Wall Street Journal reported that Tether owner Giancarlo Devasini privately indicated earlier this year that Cantor Fitzgerald Chairman and Trump presidential transition advisor Howard Lutnick would use his political influence to help mitigate threats facing Tether.
