{"id":604023,"date":"2024-11-25T07:07:16","date_gmt":"2024-11-25T07:07:16","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=604023"},"modified":"2024-11-25T10:11:36","modified_gmt":"2024-11-25T10:11:36","slug":"cantor-fitzgerald-acquires-5-tether-stake-for-600-million-as-trump-nominates-ceo-howard-lutnick-for-secretary-of-commerce","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/cantor-fitzgerald-acquires-5-tether-stake-for-600-million-as-trump-nominates-ceo-howard-lutnick-for-secretary-of-commerce","title":{"rendered":"Cantor Fitzgerald Acquires 5% Tether Stake For $600 Million As Trump Nominates CEO Howard Lutnick For Secretary Of Commerce"},"content":{"rendered":"

Financial services firm Cantor Fitzgerald reportedly agreed to a 5% stake in stablecoin issuer Tether in the past year as President-elect Donald Trump selects the company’s CEO Howard Lutnick as his Secretary of Commerce.<\/span><\/p>\n

The deal between Cantor Fitzgerald and <\/span>Tether<\/span><\/a> was valued at around $600 million, according to a Nov. 24 report by the Wall Street Journal that cited sources familiar with the matter. This would value the company at approximately $12 billion.<\/span><\/p>\n

\"Tether<\/p>\n

Tether Believes Lutnick Association Could Help “Defuse” Threats<\/span><\/h2>\n

Lutnick was nominated as Trump’s Secretary of Commerce on Nov. 19. Giancarlo Devasini, who is suspected to be Tether’s largest shareholder, reportedly<\/a> said that the Cantor Fitzgerald CEO “will use his political clout to try to defuse threats facing Tether.”<\/span><\/p>\n

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WSJ on Tether…<\/p>\n

“Devasini said privately earlier this yr that Lutnick will use his political clout to try to defuse threats facing Tether.”<\/p>\n

“Cantor, which is majority-owned by Lutnick, holds most of Tether’s $134bil in assets.”<\/p>\n

Cantor apparently has 5% stake in Tether as well. pic.twitter.com\/QHOWsvY4bq<\/a><\/p>\n

— Nate Geraci (@NateGeraci) November 24, 2024<\/a><\/p><\/blockquote>\n