Howard Lutnick, Bitcoin and Stablecoin Supporter, Chosen by Trump to Serve as Commerce Secretary

Lutnick, known for his influential role in finance and outspoken support for Bitcoin and stablecoins, will spearhead Trump's trade and economic agenda

President-elect Donald Trump has announced via Truth Social that Howard Lutnick, CEO of Cantor Fitzgerald, will serve as Commerce secretary.

Lutnick, a influential figure in finance, is a known supporter of Bitcoin and stablecoins. He will lead Trump's trade and economic agenda, which includes a proposed 60% tariff on Chinese goods.

“Bitcoin is like gold and should be free trade everywhere,” Lutnick said at a Bitcoin conference earlier this year. “We’ll do everything in our power to make it so.”

In a CNBC podcast last year, Lutnick expressed his support for crypto, specifically highlighting Bitcoin and adding that other coins “are just not a thing.” He also showed support for the stablecoin Tether.

Cantor Fitzgerald, where Lutnick serves as CEO, is a primary dealer that trades directly with the Federal Reserve and has ventured into crypto services.

The firm notably manages Tether's US Treasury holdings that back its USDT stablecoin and recently launched a $2 billion Bitcoin financing operation.

As Commerce secretary, Lutnick will oversee the Department of Commerce's 13 bureaus, including the Census Bureau and the Office of the United States Trade Representative.

Among his responsibilities will be advancing Trump's tariff-heavy trade policies, promoting foreign investment, and negotiating trade deals.

At Trump's Madison Square Garden campaign rally last month, Lutnick stated that the US was most prosperous during the early 1900s, when there was “no income tax and all we had was tariffs.”