TechFlow, May 15 — According to CoinDesk, Cantor Fitzgerald Chairman Brandon Lutnick said at the Consensus 2025 conference in Toronto that he personally verified Tether's reserves during the early stages of his company's collaboration with Tether.
In response to previous market skepticism about insufficient Tether reserves, Lutnick stated: "I personally examined a significant portion of their reserves and confirmed these rumors are false." Notably, in 2019, New York Attorney General Letitia James accused Tether of having an accounting shortfall of nearly $1 billion, though the case was ultimately settled with Tether and its affiliated company Bitfinex.
In February this year, 27-year-old Brandon Lutnick was appointed chairman of Cantor Fitzgerald, following his father Howard Lutnick's appointment as U.S. Secretary of Commerce by President Donald Trump.
