Lutnick Secures 5% Tether Stake for Cantor’s Bitcoin Loan Goals
Hey there! Big news in the world of cryptocurrency and finance—Howard Lutnick, CEO of Cantor Fitzgerald, has set his sights on the future of crypto lending. With plans to launch a $2 billion Bitcoin-backed lending program, Lutnick is making a bold move into the world of digital assets.
Not only that, but Cantor recently acquired a 5% stake in Tether, valued at a whopping $600 million. This partnership with the largest stablecoin, USDT, positions Cantor as a major player in the crypto lending space.
Despite Tether’s dominance, controversy surrounds the company, with questions about the backing of USDT circulating for years. Authorities have linked USDT to illicit activities, raising concerns about its legitimacy.
But Lutnick remains confident in Tether’s transparency, stating, “We found every penny.” With plans to step down from his roles at Cantor upon Senate confirmation, Lutnick is committed to complying with US government ethics rules.
Overall, the future of crypto lending looks promising, and with industry leaders like Lutnick at the helm, we can expect to see some exciting developments in the coming years. Stay tuned for more updates on this evolving story!
