Tether spokesperson: The relationship with Cantor is purely professional, and the claim that Lutnick influences regulation is untrue

ChainCatcher news, according to The Block, a spokesperson for Tether stated, "The relationship between Tether and Cantor Fitzgerald is purely professional and based on managing reserves. The claim that Howard Lutnick joined the transition team in some way implies influence over regulatory actions is nonsense."

Lutnick stated on Wednesday that after Senate approval, he would resign from his positions at Cantor, BGC, and Newmark. In a statement, he said, "I intend to divest my interests in these companies to comply with the ethical standards of the U.S. government and do not expect any arrangements involving the sale of stock in the public market."

Previously, The Wall Street Journal reported that Tether owner Giancarlo Devasini had privately stated earlier this year that Cantor Fitzgerald Chairman and Trump transition advisor Howard Lutnick would leverage his political influence to mitigate the threats facing Tether.