Cantor Fitzgerald CEO supporting cryptocurrency joins race for U.S. Treasury Secretary position

ChainCatcher news, Trump is selecting cabinet members for the upcoming government in 2025. Reportedly, the position of Secretary of the Treasury is currently contested between Scott Bessent and Cantor Fitzgerald CEO Howard Lutnick. FOX Business reporter Eleanor Terrett stated that Bessent is "almost certain" to get the position. This asset manager, who supports crypto assets, has the highest likelihood of becoming the U.S. Secretary of the Treasury alongside hedge fund manager John Paulson.

However, according to sources close to the process, Paulson withdrew from the cabinet selection due to what he described as "complex financial obligations," while Lutnick is said to have rushed in to vie for the Treasury Secretary position. Although the position is currently undecided, both Lutnick and Bessent are pro-crypto candidates who believe the industry will continue to exist and hope for the U.S. to promote the development of the digital asset space.

It is reported that Lutnick's company Cantor Fitzgerald has been the custodian of Tether's government bond portfolio since 2021 and became the custodian of Tether's bond portfolio in 2023. Lutnick has been a supporter of cryptocurrencies and has praised Tether and Bitcoin.