Valuation reports from financial news outlets or official company disclosures

Trump's Commerce Secretary Pick, Lutnick, Invests in Tether at $600M Valuation

Nov 24, 2024, 02:08 AM

Howard Lutnick, recently nominated by Donald Trump as Commerce Secretary, has led Cantor Fitzgerald into a significant investment in Tether, the world's largest stablecoin issuer. This deal comes at a time when Tether is under investigation by U.S. authorities. Lutnick's involvement with Tether could potentially influence regulatory scrutiny on the company, leveraging his new political position. The investment deal values Tether at up to $600 million, with Cantor Fitzgerald expected to acquire approximately 5% ownership interest in Tether.