TechFlow news, January 30 — According to Decrypt, during a Senate confirmation hearing, Howard Lutnick, President Trump's nominee for Secretary of Commerce and a Wall Street billionaire, expressed support for government audits of stablecoin reserves.
Lutnick stated that dollar-backed stablecoins should be audited and fully backed 100% by U.S. Treasuries. Notably, Lutnick's company, Cantor Fitzgerald, currently custodies billions of dollars worth of Tether reserve assets, though no independent entity has yet verified the exact holdings.




