Official announcement from the U.S. Senate or reputable news outlets

Trump to Nominate Pro-Crypto Cantor Fitzgerald CEO Howard Lutnick as Commerce Secretary

Nov 19, 2024, 04:06 PM

Donald Trump is expected to nominate Howard Lutnick, CEO of Cantor Fitzgerald and co-chair of Trump's transition team, as Secretary of Commerce, according to reports from multiple sources including CNN, The Wall Street Journal, and Punchbowl News. Lutnick, a known supporter of Bitcoin and proponent of cryptocurrency, was previously considered for Treasury Secretary. His company, which manages Tether's U.S. Treasury reserves, has partnerships with major crypto firms. He is recognized for his leadership after Cantor Fitzgerald lost 658 employees in the 9/11 attacks. Lutnick has advocated for U.S. manufacturing and policies encouraging companies to build in America. His nomination signals a potential pro-crypto stance in the upcoming administration.