Howard Lutnick: A Key Figure Behind Tether's Stability
Crypto/Finance

Howard Lutnick: A Key Figure Behind Tether's Stability

The CEO of Cantor Fitzgerald has played a crucial role in reinforcing confidence in Tether's reserves this year.

Howard Lutnick's firm, Cantor Fitzgerald, stands out as a major bond broker in Wall Street and is part of an elite circle that trades directly with the Federal Reserve. When Lutnick, acting as Tether's U.S. Treasuries dealer, confirmed the legitimacy of Tether's backing for its USDT stablecoin earlier this year, it quelled numerous conspiracy theories regarding the company's financial health.

Additionally, Lutnick has been a vocal supporter of cryptocurrencies—specifically Bitcoin and stablecoins—and has been closely associated with President-elect Donald Trump. He currently holds the position of co-chair on Trump's transition team and has been nominated to lead the Commerce Department.

While it remains ambiguous how much impact Lutnick had on Trump’s shift from skepticism to endorsement towards crypto during the latest election campaign, it's likely that his counsel contributed positively.

This profile is part of CoinDesk's Most Influential 2024 package. For a comprehensive list of nominees, click here.

Tags

  • Most Influential 2024
  • Howard Lutnick
  • Cantor Fitzgerald
  • Tether
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