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Elon Musk Backs Howard Lutnick as 'Transformative Choice' for Treasury Secretary

Nov 16, 2024, 08:51 PM

Following the 2024 U.S. elections, billionaire banker Howard Lutnick, CEO of Cantor Fitzgerald, has emerged as a serious contender for the position of U.S. Treasury Secretary in President-elect Donald Trump's new administration. Elon Musk has publicly endorsed Lutnick, calling him a 'transformative choice' who would 'actually enact change,' and contrasting him with investor Scott Bessent, whom Musk described as a 'business-as-usual choice.' Musk and Lutnick have been seen together at transition meetings at Mar-a-Lago. Musk also suggested that Trump should let the public weigh in on who should lead the Treasury, stating that business-as-usual is driving America bankrupt and that change is needed. RFK Jr. has also backed Lutnick for Treasury Secretary, citing his strong Bitcoin expertise and noting that Lutnick holds 'hundreds of millions of dollars' in Bitcoin. The endorsements have sparked discussions about the potential for crypto-friendly legislation under the new administration, with some believing that Trump's policies could make the U.S. a global crypto hub.