The report comes five days after Cantor Fitzgerald's CEO Howard Lutnick was appointed as President-Elect Donald Trump’s Secretary of Commerce.
Financial services firm Cantor Fitzgerald reportedly agreed to a 5% stake in stablecoin issuer Tether in the past year, which could position the company to receive more political support from the incoming Trump administration.
The 5% stake was reportedly valued up to $600 million when the agreement was made, WSJ said in the Nov. 24 report, citing information from business associates familiar with the matter.
It could mean Tether receives more political support as Cantor Fitzgerald’s CEO Howard Lutnick was appointed as United States President-Elect Donald Trump’s Secretary of Commerce on Nov. 19.
