Bloomberg: Cantor is in talks with Tether to launch a $2 billion Bitcoin lending project

2024-11-24 17:59:54

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ChainCatcher news, U.S. presidential candidate Donald Trump's nominee for Secretary of Commerce, Howard Lutnick, is exploring ways to strengthen financial ties with Tether, the world's largest stablecoin operator, planning to launch a $2 billion project to provide dollar loans to clients using Bitcoin as collateral.

Howard Lutnick's financial services company Cantor Fitzgerald is in discussions to secure support from Tether to help fund the project, which could amount to several billion dollars.

Tether currently holds billions of dollars in U.S. Treasury bonds through Cantor's custody business, which underpins the value of its dominant USDT stablecoin. According to insiders, this custody relationship generates tens of millions of dollars in revenue for Cantor each year.

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Tether Howard Lutnick Cantor Fitzgerald

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