Howard Lutnick, chairman of Cantor Fitzgerald, is in discussions with Tether regarding a multi-billion dollar Bitcoin lending program. The initiative will launch with $2 billion, potentially growing to several billion over time, allowing clients to borrow against Bitcoin collateral. This move indicates a strengthening relationship between Cantor and Tether, as Cantor currently holds a 5% stake in Tether and serves as the custodian for Tether’s U.S. Treasuries. Tether operates the most widely used stablecoin in the world, USDT, with a market cap of $132.76 billion. Despite scrutiny over its usage in illicit activities, Tether disputes these claims, highlighting its collaboration with law enforcement. Lutnick is positioned to influence U.S. cryptocurrency policy if confirmed as Trump's Commerce Secretary, as several members of Trump's team advocate for cryptocurrency initiatives. Lutnick will resign from his roles at Cantor and other companies if his appointment proceeds.

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