CRYPTO - Cantor Fitzgerald acquires 5% stake in Tether: a $600 million investment

According to the Wall Street Journal, financial services giant Cantor Fitzgerald has finalized an agreement to acquire a 5% stake in Tether. The transaction, valued at $600 million, takes on particular significance in light of recent U.S. political developments.

The news comes just five days after Howard Lutnick, CEO of Cantor Fitzgerald, was named Secretary of Commerce by President-elect Donald Trump. Sources cited by the Wall Street Journal suggest that this move could provide Tether with substantial political support in the incoming U.S. administration.

Giancarlo Devasini, Tether’s primary shareholder, reportedly commented:

“Lutnick will use his political clout to try to defuse threats facing Tether.”

Lutnick is already actively working with Trump as a transition advisor, assisting in the selection of candidates for key government positions.

Cantor Fitzgerald, a critical banking partner for Tether, currently manages the majority of the company’s reserves, estimated at $134 billion, primarily in U.S. Treasury bills.

Lutnick, who has confirmed he will resign as CEO of Cantor Fitzgerald if confirmed by the Senate, has repeatedly expressed confidence in Tether’s financial strength, emphasizing its crucial role in inflation-stricken countries like Argentina, Turkey, and Venezuela.

https://atlas21.com/cantor-fitzgerald-acquires-5-stake-in-tether-a-600-million-investment/