TechFlow news, on December 13, according to Protos, the U.S. Securities and Exchange Commission (SEC) announced that Cantor Fitzgerald, a key custodian of Tether's primary assets, has agreed to pay a $6.75 million penalty for making misleading statements to investors in two SPAC projects. These two SPACs had previously raised a combined $750 million. Sanjay Wadhwa, Acting Director of the SEC’s Division of Enforcement, pointed out that Cantor Fitzgerald repeatedly denied in public filings having any contact with merger targets, while in fact it was engaged in substantive merger discussions with multiple private companies.
The Wall Street Journal previously reported that Cantor Fitzgerald holds a 5% stake in Tether, valued at approximately $600 million, and as a major custodian manages $134 billion in Tether’s assets, earning tens of millions of dollars annually in custody fees. The firm agreed to pay the penalty without admitting or denying the allegations, and its spokesperson stated that "no actual losses were incurred by investors."
