During a confirmation hearing to become Commerce Secretary, the billionaire Bitcoin backer faced questions about his firm’s ties to Tether.

Cantor Fitzgerald has a convertible bond with Tether, incoming Commerce Secretary Howard Lutnick said at his confirmation hearing, confirming previous reporting by The Wall Street Journal that

Howard Lutnick, CEO of Wall Street brokerage firm Cantor Fitzgerald, did not address policy specifics in his written testimony for the Senate Commerce Committee seen by Reuters. As commerce secretary, Lutnick is to have "additional direct responsibility" for the U.S. Trade Representative's office.

Even as he stumped for Donald Trump, Howard Lutnick’s commercial real estate firm was wooing clients across the southern border.

Tether has undeniably played a pivotal role in bridging traditional finance with the digital currency world. However, its associations with illicit activities and concerns about transparency may pose systemic risks.

Howard Lutnick, President Trump's pick to run the Department of Commerce, is probed by the senator on the Tether connection of his firm, Cantor Fitzgerald.

The Senate Commerce Committee said on Wednesday it would hold a Jan. 29 hearing on President Donald Trump's nominee to lead the Commerce Department, the agency that has become a key U.S. tool in its efforts to constrain China's tech sector.

Floor signage for the offices of DeepSeek (C) is seen in Beijing on January 28, 2025. Fears of upheaval in the AI gold rush rocked Wall Street, following the emergence of a popular ChatGPT-like model from China, with US President Donald Trump saying it was a “wake-up call” for Silicon Valley. (Photo by PETER CATTERALL / AFP)

Billionaire financier Howard Lutnick, President Donald Trump’s choice to lead the Commerce Department, said Wednesday that he would sell all of his business holdings within 90 days.

Howard Lutnick, whom Trump tapped for Commerce secretary, purchased a $25 million home; and Scott Bessent, whom Trump chose for Treasury secretary, is on the hunt, according to the Wall Street ...