PANews reported on November 24 that the Wall Street Journal reported that sources revealed that Wall Street financial services company Cantor Fitzgerald agreed to acquire 5% of the shares of stablecoin issuer Tether in 2023. When the agreement was reached, the 5% stake was worth up to $600 million. This may mean that Tether will gain more political support, as Cantor Fitzgerald CEO Howard Lutnick was appointed as US President-elect Donald Trump's Secretary of Commerce on November 19. Tether's largest shareholder Giancarlo Devasini once said: "Lutnick will use his political influence to try to resolve the threats facing Tether."
Earlier news , Wall Street financial services company Cantor Fitzgerald plans to promote Bitcoin financing and lending business. In December last year , Howard Lutnick, CEO of Wall Street bond trading giant Cantor Fitzgerald, highly praised the stablecoin issuer Tether (USDT) in an interview with CNBC. Lutnick described himself as a "big fan" of Tether and mentioned that he holds Tether's treasury bonds. "Lutnick also mentioned, "They have a lot of treasury bonds, they are now over $90 billion, so I am a big fan of Tether." In February last year, it was reported that more than half of Tether's stablecoin reserves are managed by Cantor Fitzgerald.
