Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»BLOCKCHAIN NEWS»Trump friend Lutnick plans to expand $2 billion in Tether and Bitcoin lending: WSJ
BLOCKCHAIN NEWS

Trump friend Lutnick plans to expand $2 billion in Tether and Bitcoin lending: WSJ

By Crypto FlexsNovember 24, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Trump friend Lutnick plans to expand  billion in Tether and Bitcoin lending: WSJ
Share
Facebook Twitter LinkedIn Pinterest Email

Cantor Fitzgerald CEO Howard Lutnick, a candidate for President-elect Trump’s Secretary of Commerce, is looking to launch a $2 billion project to lend dollars to customers against Bitcoin.

As part of the setup, Cantor Fitzgerald has secured support from Tether, the company behind the world’s largest stablecoin, to fund the initiative.

The proposed program is expected to expand into tens of billions of dollars, according to the Wall Street Journal.

Cantor Fitzgerald currently serves as Tether’s custodian for billions of dollars of U.S. Treasury bonds backed by the USDT stablecoin. The report also stated that Cantor acquired about a 5% stake in Tether, worth $600 million.

Cantor has already begun hiring staff for the lending program, but formal lending operations have not begun.

Lutnick plans to delegate oversight of the company’s Tether relationships to colleagues as he prepares to transition to the Commerce Department. His son, Brandon Lutnick, who previously interned at Tether’s Lugano, Switzerland office, now works as a Cantor trader.

This development comes as Trump’s transition team considers creating a new White House position for cryptocurrency policy. Trump has recently emerged as a strong supporter of digital assets. He promoted projects including World Liberty Financial, which involved his son. If confirmed, Lutnick will oversee nearly 47,000 employees at Commerce, managing functions ranging from the Census Bureau to trade promotion.

Despite these developments, Tether continues to face regulatory scrutiny for potential sanctions violations and anti-money laundering issues, which the company denies. However, despite these claims, USDT remains the largest stablecoin with a market capitalization of over $132 billion.

Trump and Lutnick have maintained a professional and friendly relationship for many years, primarily through their joint involvement in the financial and real estate sectors.

In addition to participating in events over the years, Lutnick hosted a fundraiser for Trump during the presidential campaign.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

BNB price forecast: Target $ 890- $ 900 in September 2025.

August 31, 2025

What happened in Crypto today

August 26, 2025
Add A Comment

Comments are closed.

Recent Posts

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

NOWPayments To Participate In SiGMA Europe Rome 2025

September 4, 2025

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Is XRP The Dark Horse Of The Cryptocurrency World? Earn 652 XRP Daily Using Invro Mining’s Smart Contract

September 4, 2025

TRX Was Early, ETH Set The Standard, BNB Built The Scale- Now SYC Brings The Next Evolution

September 4, 2025

Sign Up And Receive $500 Bonus, Ushering In A New Era Of Compliant And Secure Crypto Investment

September 4, 2025

Why experts say that 99%of the traders are wrong

September 4, 2025

ChainUp Named Double Finalist At Thomson Reuters’ ALB Pan-Asian Regulatory Awards 2025

September 4, 2025

Integrated security classes can accelerate the adoption of institutional passwords.

September 4, 2025

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

NOWPayments To Participate In SiGMA Europe Rome 2025

September 4, 2025
Most Popular

Will the XRP price upward trend continue? This may be a factor to note

January 17, 2024

Binance executive who escaped jail was arrested in Kenya and likely extradited to Nigeria

April 22, 2024

BNB Soars as Top 10 Coins Fall: Is This a Positive Thing for the Market?

June 9, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.