Republican presidential candidate Donald Trump has reportedly announced that Howard Rutnick, CEO of Cantor Fitzgerald, which runs Tether Bank, will lead his transition team if he is elected president again.
Lutnick will serve as co-chairman alongside Linda McMahon, former head of the U.S. Small Business Administration. According to multiple reports, Trump will serve as honorary chair along with his vice presidential nominee, J.D. Vance, and Trump’s sons, Donald Trump Jr. and Eric Trump.
Trump’s campaign and Cantor Fitzgerald did not immediately respond to requests for comment.
Cantor Fitzgerald has served as Tether’s administrator since late 2021, Tether CEO Paolo Ardoino previously said. block. USDT is the largest stablecoin by market cap and is used globally. There was Extended There has been speculation about Tether’s reserves, with some saying that Tether lacks one-to-one support for USDT, but Tether has consistently refuted these claims.
Lutnick supported Tether in the interview. Bloomberg Television at the World Economic Forum in Davos earlier this year.
“I manage a lot of their assets,” Lutnick said. Said In that interview, “From what we’ve seen and what we’ve done, they’ve got money.”
Alexander Grieves, Paradigm’s vice president of government affairs, said President Trump’s choice will have a major impact on the cryptocurrency industry.
“The Trump administration’s leadership has been announced,” Greaves said. X On Friday. “Having Howard Rutnick on board is huge for crypto,” he said. “He personally briefed the House Republicans on stablecoins last year and is a big bull on crypto.”
Cryptocurrencies have become a major part of the upcoming election season, with millions of dollars pouring into super political action committees and Trump telling voters he would end the “illegal and un-American crackdown” on the U.S. cryptocurrency industry. The former president also made inroads into the industry by choosing crypto-friendly policies. Vance As his running mate I promised Defending Bitcoin miners.
Meanwhile, candidate and current Vice President Kamala Harris Reach He said he wants to get out into the crypto industry and learn more about it. Harris has yet to make a public statement on crypto.
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