Official announcements from Cantor Fitzgerald or Tether

Cantor Fitzgerald Acquires 5% Stake in Tether for $600M, Eyes Bitcoin Lending

Nov 24, 2024, 03:27 AM

Cantor Fitzgerald, led by CEO Howard Lutnick, has struck a deal to invest in Tether, the world's largest stablecoin issuer, acquiring approximately 5% ownership interest valued at up to $600 million. This investment is part of a broader strategy where Lutnick, who is also Trump's new Commerce Secretary, is expected to use his political influence to address threats facing Tether. The firm holds most of Tether's $134 billion in assets, primarily in the form of US T-bills. Additionally, Cantor Fitzgerald is negotiating with Tether on funding for a key upcoming lending project tied to Bitcoin.