Howard Lutnick, Trump's Commerce Secretary pick, discusses a $2 billion project with stablecoin firm Tether.

Howard Lutnick, Donald Trump's pick for Commerce Secretary, is in talks with Tether, a major stablecoin company, to launch a $2 billion project lending dollars against bitcoin. Lutnick's firm, Cantor Fitzgerald, holds billions in Treasuries for Tether, earning tens of millions annually. The project could expand to tens of billions, with Tether potentially investing up to $600 million, or about 5% ownership, in Cantor.

November 24, 2024
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