Tether spokesperson: The relationship with Cantor is business-related, the claim that Lutnick influences regulation is purely unfounded
A spokesperson for Tether stated: "Tether's relationship with Cantor Fitzgerald is purely business-based, grounded in reserve management. The claim that Howard Lutnick joining the transition team somehow implies an impact on regulatory actions is pure speculation." On Wednesday, Lutnick announced that he would resign from his positions at Cantor, BGC and Newmark following Senate approval. He said in a statement: "I intend to divest my interests in these companies to comply with U.S. government ethical standards and do not anticipate any arrangements involving selling shares on the open market." Howard Lutnick, CEO and major shareholder of Cantor Fitzgerald who served as co-chair of President-elect Trump's transition team, was recently nominated as Secretary of Commerce. Earlier today news came out according to WSJ report that Giancarlo Devasini, CFO of Tether privately stated earlier this year that Howard Lutnick will use his political influence to try to resolve threats faced by Tether.
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