USDT Stands Better Chances Under President Trump

Tether, owners of USDT stand a better chance of gaining political support from the incoming Trump administration after financial services firm Cantor Fitzgerald reportedly agreed to a 5 percent stake in the company within the last year.

WSJ’s  Nov. 24 report highlighted that when the deal was reached, the 5 percent stake was reportedly worth up to $600 million, using data from business associates with knowledge of the situation.

Given that Howard Lutnick, the CEO of Cantor Fitzgerald, was named Secretary of Commerce by US President-Elect Donald Trump in November, it may indicate that Tether will gain more political backing. 19. According to the WSJ, Giancarlo Devasini, who is thought to be Tether’s biggest shareholder, allegedly stated: “Lutnick will use his political clout to try to defuse threats facing Tether.”.

Lutnick, one of Trump’s transition advisors, is already collaborating closely with him. He has been screening applicants for other high-level government positions that might entail overseeing Tether.. Lutnick stated that he would resign as CEO of Cantor Fitzgerald after receiving confirmation from the Senate.

It comes after news that the Southern District of New York US Attorney’s Office has been looking into potentially illegal uses of Tether by third parties, including financing terrorism. During a period when many banks worldwide have cut off Tether, Cantor Fitzgerald has been one of the company’s most significant banking partners. Tether’s $134 billion in reserves are held in US Treasury bills by the Lutnick-led company.