According to a Wall Street Journal (WSJ) investigation, Howard Lutnick, Trump’s nominee for Commerce Secretary and current presidential transition adviser, maintains significant business connections with cryptocurrency giant Tether through his firm Cantor Fitzgerald. The Journal reported on Saturday that Cantor Fitzgerald, where Lutnick serves as chairman, holds the majority of Tether’s $134 billion in assets, primarily in U.S. Treasury bills. The WSJ notes that Devasini, an Italian national, has avoided travelling to the U.S. due to concerns about the potential arrest. The crypto industry seems excited about the possibility of Bessent becoming the next U.S. Treasury Secretary. Blockchain Association CEO Kristin Smith made the following statement:The following statement is attributed to Blockchain Association CEO @KMSmithDC following President-elect Trump's nomination of Scott Bessent for Treasury Secretary: pic.twitter.com/eV8oWeQeLi — Blockchain Association (@BlockchainAssn) November 23, 2024Featured Image via Unsplash

Source: Wall Street Journal November 24, 2024 09:40 UTC