Howard Lutnick and Tether Strike a Groundbreaking Deal, Bringing Cryptocurrency to the Mainstream

Long-time cryptocurrency advocate, Howard Lutnick is one of the most active digital assets today. Only a couple of days ago, President-Elect Donald J. Trump appointed the Cantor Fitzgerald CEO as the future Commerce Secretary in the United States.

Howard Lutnick, a long-time advocate for cryptocurrency, is currently one of the most active figures in the digital asset space. Just a couple of days ago, President-Elect Donald J. Trump appointed the Cantor Fitzgerald CEO as the future Commerce Secretary in the United States.

A firm Trump supporter throughout the campaign, Howard Lutnick recently served as co-chair of Trump’s transition team. During the race, the billionaire was a key Republican backer, donating tens of millions of dollars to the GOP.

Now, Lutnick is reportedly making groundbreaking moves with stablecoin issuer Tether. Recent reports by David Pan at Bloomberg reveal that the Cantor Fitzgerald CEO is negotiating a partnership with Tether to launch a new lending program where borrowers can use Bitcoin as collateral.

The program is set to launch with a $2 billion investment and is expected to grow exponentially over the years. Interestingly, this isn’t the first time Lutnick and Tether have done business.

In fact, Tether uses his company’s custody business to hold its multiple billion-dollar reserves, ensuring the value of USDT remains dollar-pegged.

During the campaign, Donald Trump touched on the cryptocurrency subject multiple times. Aside from the eventual Bitcoin praises, the future President also mentioned a plan to use stablecoins pegged to the U.S. Dollar as a way to ensure that the greenback remains the dominant force.

If those rumors are true, the future Trump presidency could have a lot to uncover regarding stablecoin operations in the U.S.