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Is the future US Secretary of Commerce a new helper for cryptos? His company was exposed to holding Tether, advancing the bitcoin lending project
Financial services company Cantor, founded and led by Lutnick, reached an agreement last year to hold 5% of Tether's equity, worth as much as $0.6 billion at the time; Tether is facing investigations by the US Department of Justice for violating sanctions and money laundering regulations, with its boss stating that Lutnick will try to use his political influence to resolve the threats facing Tether; Cantor is also considering accepting Tether's support for its initial $2 billion Bitcoin collateral loan project.
Trump camp suddenly released major 'revelations'. Bitcoin surged violently by 0.097 million. Musk reportedly has accepted dogecoin payment.
On Monday, November 25th, bitcoin surged violently above $97,000. Newly elected US President Donald Trump announced that the prominent crypto hedge fund manager Scott Bessent will serve as the new Treasury Secretary. Republican Representative French Hill from Arkansas revealed that Hester Peirce, considered the "mother of cryptos" by some, will take over as the Acting Chair of the US Securities and Exchange Commission.
Trump's nominated Secretary of Commerce's company is negotiating with stablecoin giant Tether on a $2 billion bitcoin loan project.
Lutnick's financial services company Cantor Fitzgerald is negotiating with Tether to launch a $2 billion project, offering clients dollar loans with bitcoin as collateral.
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