Jump to content
  • Sign Up
×
×
  • Create New...

Trump pick Lutnick’s firm in talks with Tether for $2 billion bitcoin lending project, Bloomberg reports


Recommended Posts

  • Diamond Member

This is the hidden content, please

Trump pick Lutnick’s firm in talks with Tether for $2 billion bitcoin lending project, Bloomberg reports

(Reuters) – U.S. President-elect Donald Trump’s pick for Commerce Secretary, Howard Lutnick is in talks to deepen his financial ties with the company operating the world’s largest stablecoin, Tether, by launching a $2 billion project to lend dollars to clients against bitcoin, Bloomberg News reported on Sunday.

Lutnick’s financial services firm Cantor Fitzgerald is discussing receiving support from Tether to help fund the project, that could potentially reach tens of billions of dollars, the report said, citing people familiar with the matter.

Tether and Cantor did not immediately respond to a Reuters request for comment outside business hours.

Tether uses Cantor to hold billions of dollars worth of Treasuries that support the value of its stablecoin in a relationship that helps Lutnick’s firm earn tens of millions of dollars annually, Bloomberg reported.

Earlier this week, Trump said he would nominate Wall Street CEO Howard Lutnick to lead his trade and tariff strategy as head of the Commerce Department. He would also have “additional direct responsibility” for the U.S. Trade Representative’s office.

Lutnick has been known to promote the adoption of cryptocurrency. The Commerce Department oversees a sprawling array of functions with nearly 47,000 employees, from the U.S. Census Bureau to weather forecasting, ocean navigation and investment promotion.

(Reporting by Kanjyik Ghosh;Editing by Elaine Hardcastle)



This is the hidden content, please

#Trump #pick #Lutnicks #firm #talks #Tether #billion #bitcoin #lending #project #Bloomberg #reports

This is the hidden content, please

This is the hidden content, please

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Vote for the server

    To vote for this server you must login.

    Jim Carrey Flirting GIF

  • Recently Browsing   0 members

    • No registered users viewing this page.

Important Information

Privacy Notice: We utilize cookies to optimize your browsing experience and analyze website traffic. By consenting, you acknowledge and agree to our Cookie Policy, ensuring your privacy preferences are respected.