系留的

Tether 长期以来一直是加密货币领域最强大、最受关注的公司之一，这要归功于其无处不在的稳定币，该稳定币用于全球交易，并为无法使用美元的人们提供金融对冲。

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.

美国金融服务公司 Cantor Fitzgerald 是 Tether 美国国库券的主要托管人，美国国库券是支持 Tether 稳定币的主要资产。

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.

该公司的首席执行官霍华德·卢特尼克 (Howard Lutnick) 创立了该公司，并在 9/11 事件 658 名员工死亡后重建了该公司。据《华尔街日报》最近报道，Lutnick 一直在电视节目中宣传 Tether，并最近购买了这家加密货币公司 5% 的股权。

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.

但据报道，Tether 正面临司法部和财政部对可能存在的洗钱违规行为的调查，批评者警告说，Tether 的创始人是一位意大利前整形外科医生，可能会对美国政府最高层产生不当影响。

“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.”

哥伦比亚商学院经济学教授布雷特·豪斯 (Brett House) 告诉《财富》杂志：“首先要担心的是与[卢特尼克]现有业务存在任何潜在冲突。” “很难想象他会像现在这样继续参与并担任商务部长。”

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.

据报道，为了解决这种利益冲突，Lutnick 计划将 Cantor Fitzgerald 与 Tether 的关系移交给他的同事和他在加密公司实习的儿子。特朗普过渡团队的发言人没有回应置评请求。

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 长期以来一直是加密货币领域最强大、最受关注的公司之一，这要归功于其无处不在的稳定币，该稳定币用于全球交易，并为无法使用美元的人们提供金融对冲。

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.

由于其离岸业务和通常不透明的商业行为，Tether 还面临着对其储备完整性及其受毒贩和恐怖主义融资者欢迎的审查。 Tether 还受到了执法行动，包括纽约总检察长和商品期货交易委员会的执法行动，据报道还面临司法部和财政部的调查。

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 否认参与非法活动，并宣传其与执法机构和 TRM Labs 等区块链分析公司的合作。

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.

过去，围绕 Tether 的不信任的一个重要根源是它依赖不知名的银行作为合作伙伴，包括巴哈马 Deltec 来管理美元和国库券储备，这些储备旨在将其稳定币与 1 美元挂钩。因此，Lutnick 在 2023 年 12 月的播客中首次披露了其与纽约 Cantor Fitzgerald 的关系，这一关系起到了关键的推动作用。

“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 这种稳定币的忠实粉丝，”他当时说道。此后，卢特尼克在加密会议上推动了该公司的工作。据《华尔街日报》报道，两家公司于 2021 年底开始合作。

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) 与 Tether 之间的联盟日益紧密。据报道，除了前者的所有权之外，这家华尔街公司还正在计划一项比特币借贷计划。

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，卢特尼克还在特朗普 2024 年总统竞选期间担任经济顾问之一，后来领导了过渡工作。卢特尼克一直在竞选财政部长职位，直到上周他被提名为特朗普的商务部提名人。

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.

虽然财政部的任命可能会在 Lutnick 与 Tether 的关系上造成更多冲突，因为据报道该部门正在对该公司进行调查，而且财政部是一个比商务部更有影响力的部门。

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.

尽管如此，哥伦比亚大学教授豪斯警告说，任何内阁职位都将对白宫产生重大影响，部分原因是获得特权信息和重叠的监管框架。稳定币立法将成为共和党控制的国会在下届会议期间的政策重点。

“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.”

众议院表示：“如果将卢特尼克先生作为财政部长的考虑转移到商务部长的考虑是为了减少或削弱对利益冲突的担忧，我认为这是错误的，因为无论情况如何，这些担忧都将持续存在。”人们将担任的内阁级别角色类型。”

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.

他补充说，企业高管担任内阁职位是很常见的，但任何可能的冲突都应该在确认过程中进行审查。

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.

尽管 Lutnick 保证他将辞去 Cantor 职务并放弃任何利益，但投资者似乎对 Tether 不断增长的前景做出了反应，自总统选举以来，其市值增长了近 150 亿美元。