.jpg){kind=avatar}
Cantor, which is majority-owned by Lutnick, holds most of Tether’s $134b in assets, largely U.S. Treasury bills, in exchange for tens of millions of dollars of fees each year, according to people familiar with Cantor’s business. Cantor’s relationship with Tether deepened when the trading firm struck a deal to invest in the crypto giant. Under the agreement, which was made in the past year, Cantor stood to receive about a 5% ownership interest in Tether.
In a statement sent before Lutnick’s selection as commerce secretary, the Tether spokesperson said that “Tether’s relationship with Cantor is entirely professional, based on managing reserves. The claim that Lutnick’s involvement in a transition team somehow translates to influence over regulatory actions is laughable.”
unknownx500
