Howard Lutnick’s Firm, Cantor Fitzgerald To Work With Tether For $2B Project

As per the newest Bloomberg report, Monetary providers agency Cantor Fitzgerald, which serves as Tether’s banking accomplice, is seeking to work with the stablecoin issuer on a program that may permit purchasers to borrow {dollars} in opposition to Bitcoin as collateral. Whereas the agency will begin lending in opposition to Bitcoin with $2 billion, it’s anticipated to extend to tens of billions. Notably, Cantor Fitzgerald agreed to amass a 5% stake in Tether for round $600 million previously 12 months. Earlier this week, President-elect Donald Trump nominated Cantor Fitzgerald CEO Howard Lutnick to be the subsequent Commerce Secretary.