Howard Lutnick, recently appointed secretary of commerce by President Trump, is the chief executive officer of, and banker with Tether and Cantor Fitzgerald. This announcement comes as reports say leaders in the cryptocurrency sector are seeking meetings with him; Lutnick is also a co-chair of the transition team.
Lutnick, then the president of the United States, was appointed by Donald Trump to run the Department of Commerce. He was the man behind the transition team regarding appointments during the changeover. The reason why Cantor Fitzgerald is worth mentioning is that it handles Tether’s USDT stablecoin reserves. Lutnick traditionally has been supportive of the entire cryptocurrency industry.
In September 2024, he suggest5ed that Bitcoin’s acceptance into regulated mainstream finance is going to happen. In his view, what follows a SmartDown in the cryptocurrency world, expansion seems stable and goes up for a longer term as Bitcoin eventually gains the respect it deserves from the regulations.
According to the New York Times, executives from several cryptocurrency companies have sought meetings with Lutnick to develop connections with Trump’s team. Notably, Brian Armstrong, CEO of Coinbase, reportedly visited the White House for discussions.
“I thank you, Mr. Trump, for trusting me in making America great once again.To be the next Secretary of Commerce, I will join the best Cabinet that this country has ever seen and unleash the full economic potential of our country,” Lutnick made the statement when his appointment was proclaimed.
Lutnick is not the only Trump ally to receive a role in the new administration; Robert F. Kennedy Jr., another candidate for president, who ultimately backed Trump, has been awarded the portfolio of Secretary of Health.
Billionaire Elon Musk has been appointed head of the Department of Government Efficiency (DOGE), which will focus on cutting redundant legislation and bureaucracy.
