Howard Lutnick
Howard Lutnick
-41st United States Secretary of Commerce,
-Former CEO/Chairman of Cantor Fitzgerald
Known For:
– Managing Tether’s $80+ billion Treasury reserves through Cantor Fitzgerald while serving as Commerce Secretary
– Son Brandon launching $3.6B Bitcoin SPAC (Twenty One Capital) using Cantor/Tether connections
– Rebuilt Cantor Fitzgerald after losing 658 employees including his brother in 9/11 attacks
Connections to Crypto:
– Cantor Fitzgerald: Manages 99% of Tether’s $80B+ U.S. Treasury reserves
– Tether Ownership: Holds 5% stake (~$600M) in the stablecoin issuer
– Bitcoin Lending: Launched $2B BTC-backed lending facility (2024 Nashville)
– Family Succession: Sons Brandon (Chairman/CEO) and Kyle (Exec. Vice Chair) now run Cantor
Political / Financial Ties:
– Trump 2020/2024 campaign fundraiser and transition team co-chair
– Senate-confirmed Commerce Secretary (Feb 2025) amid ethics concerns
– Divested BGC Group ($151.5M) and Newmark Group ($127M) holdings
– Twenty One Capital: $3.6B Bitcoin SPAC backed by Tether, SoftBank, Bitfinex
“...Dollar hegemony is fundamental to the United States... That’s why I’m a fan of properly backed stablecoins..."
Featured In:
– Reuters, Fortune, CoinDesk, Business Wire
– Coverage of his cabinet role, Tether ties, and family crypto ventures
🕵️♂️ Sources:
– [Reuters](https://www.reuters.com/technology/softbank-backed-consortium-partners-with-spac-36-billion-crypto-venture-2025-04-23/)
– [BusinessWire](https://www.businesswire.com/news/home/20250519025023/en/Cantor-Fitzgerald-Announces-Next-Generation-of-Ownership)
– [Cantor](https://www.cantor.com/tether-softbank-group-and-jack-mallers-launch-twenty-one-a-bitcoin-native-company-through-a-business-combination-with-cantor-equity-partners/)
– [Fortune](https://fortune.com/crypto/2024/11/25/commerce-nominee-howard-lutnick-tether-booster-cantor-fitzgerald/)
– [CoinDesk](https://www.coindesk.com/policy/2025/02/04/howard-lutnick-softens-stance-on-tether-stability-investment-ties-during-senate-hearing)
Last Updated: 07/04/2025
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