系留的

Tether 長期以來一直是加密貨幣領域最強大、最受關注的公司之一，這要歸功於其無處不在的穩定幣，該穩定幣用於全球交易，並為無法使用美元的人提供金融對沖。

U.S. financial services firm Cantor Fitzgerald serves as the main custodian for Tether’s U.S. Treasury bills, which are the primary asset backing Tether’s stablecoin.

美國金融服務公司 Cantor Fitzgerald 是 Tether 美國國庫券的主要託管人，美國國庫券是支持 Tether 穩定幣的主要資產。

The firm’s CEO, Howard Lutnick, founded the company and rebuilt it after 658 of its employees died in 9/11. Lutnick has been touting Tether in TV appearances and recently bought a 5% ownership stake in the crypto firm, according to a recent report in the Wall Street Journal.

該公司的執行長霍華德·盧特尼克 (Howard Lutnick) 創立了該公司，並在 9/11 事件 658 名員工死亡後重建了該公司。根據《華爾街日報》最近報道，Lutnick 一直在電視節目中宣傳 Tether，並最近購買了這家加密貨幣公司 5% 的股權。

But with Tether facing a reported probe from the Justice and Treasury departments into possible money laundering violations, critics warn Tether—whose founder is an Italian former plastic surgeon—may have undue influence at the highest levels of the U.S. government.

但據報道，Tether 正面臨司法部和財政部對可能存在的洗錢違規行為的調查，批評者警告說，Tether 的創始人是一位義大利前整形外科醫生，可能會對美國政府最高層產生不當影響。

“The first concern is any potential conflicts with the existing engagements that [Lutnick] has,” Brett House, an economics professor at Columbia Business School, told Fortune. “It’s hard to imagine him remaining engaged in the way he is now and serving as commerce secretary.”

哥倫比亞商學院經濟學教授布雷特·豪斯 (Brett House) 告訴《財富》雜誌：“首先要擔心的是與[盧特尼克]現有業務存在任何潛在衝突。” “很難想像他會像現在這樣繼續參與並擔任商務部長。”

To address this conflict of interest, Lutnick reportedly plans to hand over Cantor Fitzgerald’s relationship with Tether to his colleagues and to his son, who interned with the crypto firm. A spokesperson for the Trump transition team did not respond to a request for comment.

據報道，為了解決這種利益衝突，Lutnick 計劃將 Cantor Fitzgerald 與 Tether 的關係移交給他的同事和他在加密公司實習的兒子。川普過渡團隊的發言人沒有回應置評請求。

Tether-ed

系留的

Tether has long been one of the most powerful—and scrutinized—companies in crypto, thanks to its ubiquitous stablecoin, which is used for global trading and as a financial hedge for people without access to the dollar.

Tether 長期以來一直是加密貨幣領域最強大、最受關注的公司之一，這要歸功於其無處不在的穩定幣，該穩定幣用於全球交易，並為無法使用美元的人提供金融對沖。

Due to its offshore operations and often opaque business practices, Tether has also faced scrutiny about the integrity of its reserves, and its popularity with drug traffickers and terrorism financers. Tether has also been subject to enforcement actions, including by the New York Attorney General and Commodity Futures Trading Commission, and is reportedly facing a probe by the Justice and Treasury Departments.

由於其離岸業務和通常不透明的商業行為，Tether 還面臨著對其儲備完整性及其受毒販和恐怖主義融資者歡迎的審查。 Tether 也受到了執法行動，包括紐約總檢察長和商品期貨交易委員會的執法行動，據報道還面臨司法部和財政部的調查。

Tether has denied it is complicit in illegal activities, and touted its work with law enforcement agencies and blockchain analytics firms such as TRM Labs.

Tether 否認參與非法活動，並宣傳其與執法機構和 TRM Labs 等區塊鏈分析公司的合作。

In the past, a big source of mistrust around Tether has been its reliance on little-known banks as partners, including the Bahamian Deltec, to manage the reserve of dollars and Treasury bills that are intended to keep its stablecoin pegged to $1. For this reason, its relationship with New York-based Cantor Fitzgerald, which Lutnick first disclosed in a December 2023 podcast, has been a key boost.

過去，圍繞 Tether 的不信任的一個重要根源是它依賴不知名的銀行作為合作夥伴，包括巴哈馬 Deltec 來管理美元和國庫券儲備，這些儲備旨在將其穩定幣與 1 美元掛鉤。因此，Lutnick 在 2023 年 12 月的播客中首次披露了與紐約 Cantor Fitzgerald 的關係，這一關係起到了關鍵的推動作用。

“I’m a big fan of this stablecoin called Tether,” he said at the time. Lutnick has since boosted the company’s work at crypto conferences. According to the Wall Street Journal, the two firms began working together in late 2021.

「我是 Tether 這種穩定幣的忠實粉絲，」他當時說道。此後，盧特尼克在加密會議上推動了該公司的工作。根據《華爾街日報》報道，兩家公司於 2021 年底開始合作。

The alliance between Cantor Fitzgerald and Tether is becoming closer. In addition to the former’s ownership stake, the Wall Street firm is reportedly planning a Bitcoin lending program.

坎托·菲茨杰拉德 (Cantor Fitzgerald) 與 Tether 之間的聯盟日益緊密。據報道，除了前者的所有權之外，這家華爾街公司還正在計劃一項比特幣借貸計劃。

Along with his work at Cantor Fitzgerald, Lutnick served as one of Trump’s economic advisors during his 2024 presidential campaign, later leading transition efforts. Lutnick was in the running for the Treasury secretary position until last week, when he was named as Trump’s nominee for Commerce instead.

除了在 Cantor Fitzgerald 工作之外，盧特尼克還在川普 2024 年總統競選期間擔任經濟顧問之一，後來領導了過渡工作。盧特尼克一直在競選財政部長職位，直到上週他被提名為川普的商務部提名人。

While a Treasury appointment would have created more conflict over Lutnick’s relationship with Tether, due to the department’s reported probe into the company as well as the fact Treasury is a much more influential department than Commerce.

雖然財政部的任命可能會在 Lutnick 與 Tether 的關係上造成更多衝突，因為據報該部門正在對該公司進行調查，而且財政部是一個比商務部更有影響力的部門。

Nonetheless, House, the Columbia professsor, warns that any cabinet position will hold substantial influence in the White House, in part due to access to privileged information and overlapping regulatory frameworks. Stablecoin legislation is set to be a policy priority for the Republican-controlled Congress during the next session.

儘管如此，哥倫比亞大學教授豪斯警告說，任何內閣職位都將對白宮產生重大影響，部分原因是獲得特權資訊和重疊的監管框架。穩定幣立法將成為共和黨控制的國會在下次會議期間的政策重點。

“If the diversion from consideration of Mr. Lutnick for Treasury secretary to Commerce secretary is being posited as a way to reduce or weaken concerns about conflict of interest, I think that is misguided,” House said, “Because those concerns will remain regardless of the type of cabinet-level role one would take.”

眾議院表示：「如果將盧特尼克先生作為財政部長的考慮轉移到商務部長的考慮是為了減少或削弱對利益衝突的擔憂，我認為這是錯誤的，因為無論情況如何，這些擔憂都將持續存在。

He added that it is common for business executives to take on Cabinet positions, but that any possible conflicts should be reviewed during the confirmation process.

他補充說，企業主管擔任內閣職位是很常見的，但任何可能的衝突都應該在確認過程中進行審查。

Despite Lutnick’s assurances that he will step down from Cantor and divest himself from any interests, investors seem to be reacting to Tether’s growing prospects, with its market cap growing by nearly $15 billion since the presidential election.

儘管 Lutnick 保證他將辭去 Cantor 職務並放棄任何利益，但投資者似乎對 Tether 不斷增長的前景做出了反應，自總統選舉以來，其市值增長了近 150 億美元。