According to a recent report from the U.S. Office of Government Ethics, Howard Lutnick, nominated for Secretary of Commerce, disclosed his financial holdings. Upon confirmation, Lutnick plans to divest his interests in several major corporations, including GE Healthcare, GE Vernova, GE Aerospace, and Nasdaq. Notably, Lutnick is a well-known advocate for Bitcoin and the broader cryptocurrency ecosystem. At the 2024 Bitcoin Conference, he publicly acknowledged his holdings in Bitcoin, which highlights his commitment to the digital asset market.
Moreover, Lutnick’s firm, Cantor Fitzgerald, possesses a considerable Bitcoin portfolio, signifying a solid endorsement of crypto assets. The firm has established a significant financial collaboration with Tether, the leading stablecoin issuer, overseeing billions in U.S. Treasury bonds for Tether. This strategic partnership underpins the value of Tether’s USDT stablecoin and has proven lucrative for Cantor Fitzgerald, reinforcing Lutnick’s influential role in promoting Tether within the United States.