Tether's main asset custodian Cantor Fitzgerald has agreed to pay a $6.75 million fine to the SEC

ChainCatcher news, according to Protos, Tether's main asset custodian Cantor Fitzgerald has agreed to pay a $6.75 million fine to the U.S. Securities and Exchange Commission (SEC). The SEC accused its two special purpose acquisition companies (SPACs) of issuing misleading statements to investors before raising $750 million in IPO funds, concealing substantial discussions with potential merger targets.

The SEC stated that Cantor Fitzgerald merged its SPACs with View, Inc. and Satellogic Inc., but claimed in public documents that it had not contacted any target companies. Cantor did not admit or deny the allegations but emphasized that no investors were harmed by the related issues.

Additionally, The Wall Street Journal revealed that Cantor Fitzgerald holds a 5% stake in Tether and manages most of its assets, charging tens of millions of dollars in fees.