{"id":18859,"date":"2024-11-24T10:44:46","date_gmt":"2024-11-24T08:44:46","guid":{"rendered":"https:\/\/forklog.com\/en\/cantor-fitzgerald-secures-5-stake-in-tether-reports-wsj\/"},"modified":"2024-11-24T10:44:46","modified_gmt":"2024-11-24T08:44:46","slug":"cantor-fitzgerald-secures-5-stake-in-tether-reports-wsj","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/cantor-fitzgerald-secures-5-stake-in-tether-reports-wsj\/","title":{"rendered":"Cantor Fitzgerald Secures 5% Stake in Tether, Reports WSJ"},"content":{"rendered":"<p>Financial firm Cantor Fitzgerald has agreed to acquire a 5% stake in stablecoin issuer Tether for $600 million, according to <a href=\"https:\/\/www.wsj.com\/finance\/currencies\/howard-lutnick-giancarlo-devisini-tether-cryptocurrency-3d0a961c\">WSJ<\/a>, citing its own sources.<\/p>\n<p>Howard Lutnick, CEO and principal shareholder of Cantor Fitzgerald, serves as co-chair of the transition team for U.S. President-elect Donald Trump. On November 19, Trump nominated the entrepreneur for the position of Secretary of Commerce in the incoming administration.  <\/p>\n<p>According to the publication, Tether&#8217;s leadership views Lutnick as a key ally in countering regulatory pressure on the stablecoin sector.<\/p>\n<p>Giancarlo Devasini, the main shareholder of the company, allegedly stated earlier this year:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Lutnick will use his political influence to try to neutralize the threats facing Tether.&#8221;<\/p>\n<\/blockquote>\n<p>A WSJ source emphasized that the companies&#8217; relationship is strictly professional and based on reserve management. Claims that the entrepreneur&#8217;s role in the transition team allows him to influence regulators were called &#8220;ridiculous.&#8221;<\/p>\n<p>Cantor Fitzgerald holds the majority of Tether&#8217;s assets, valued at $133 billion, earning &#8220;tens of millions of dollars&#8221; annually in fees.<\/p>\n<p>The stablecoin issuer reported a net profit of $7.7 billion for the year to date at the end of the third quarter.<\/p>\n<p>In October, WSJ reported on a U.S. government investigation into potential violations by Tether of sanctions and anti-money laundering regulations. The company&#8217;s CEO, Paolo Ardoino, denied this information.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial firm Cantor Fitzgerald has agreed to acquire a 5% stake in stablecoin issuer Tether for $600 million, according to WSJ, citing its own sources. Howard Lutnick, CEO and principal shareholder of Cantor Fitzgerald, serves as co-chair of the transition team for U.S. President-elect Donald Trump. On November 19, Trump nominated the entrepreneur for the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1714,1245],"class_list":["post-18859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-howard-lutnick","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"38","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18859"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18859\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18858"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}