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Trump pick Lutnick's firm in talks with Tether for $2 billion bitcoin lending project: reports

Economic TimesEconomic Times Ā· 4h
Trump pick Lutnick's firm in talks with Tether for $2 billion bitcoin lending project: reports

Howard Lutnick, the pick for Commerce secretary by US President-elect Donald Trump, is reportedly in talks to launch a $2 billion project with Tether, the largest stablecoin operator. The project aims to lend dollars to clients against bitcoin, potentially reaching tens of billions of dollars. Lutnick's firm, Cantor Fitzgerald, is discussing receiving support from Tether for this initiative. Tether Investments mentioned it is exploring opportunities using profits from previous years. Stablecoins maintain a constant value and are backed by traditional currencies. Lutnick's appointment would give him additional responsibility for the US Trade Representative's office alongside leading the Commerce Department.

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