Howard Lutnick’s Firm, Cantor Fitzgerald To Work With Tether For $2B Project

As per the latest Bloomberg report, Financial services firm Cantor Fitzgerald, which serves as Tether’s banking partner, is looking to work with the stablecoin issuer on a program that will allow clients to borrow dollars against Bitcoin as collateral. While the firm will start lending against Bitcoin with $2 billion, it is expected to increase to tens of billions. Notably, Cantor Fitzgerald agreed to acquire a 5% stake in Tether for around $600 million in the past year. Earlier this week, President-elect Donald Trump nominated Cantor Fitzgerald CEO Howard Lutnick to be the next Commerce Secretary.