On November 24th, 2023, COINOTAG reported that renowned entrepreneur Howard Lutnick is actively pursuing a partnership with Tether Holdings Ltd., a pivotal entity in the digital asset sector. As per insider accounts, Lutnick is initiating discussions with Tether to bolster the financial collaboration between his company, Cantor Fitzgerald LP, and the issuer of the leading stablecoin, USDT.
The proposed initiative aims to secure substantial lending capabilities, with an initial funding goal set at $2 billion. This plan could potentially escalate to offer loans amounting to several hundred billion dollars, driven by Bitcoin collateral, according to sources privy to the negotiations.
Tether’s current holdings include extensive investments in US Treasury bonds, facilitated through Cantor’s custody services, playing a crucial role in sustaining the value of its USDT coin. The revenue generated from this arrangement reportedly amounts to tens of millions of dollars for Cantor annually, signifying the financial weight of this relationship.
Lutnick, noted for his leadership within the business landscape, previously served as Co-Chairman of the transition team for President-elect Trump, further illustrating his significant influence in both finance and politics.
Source: https://en.coinotag.com/breakingnews/howard-lutnick-strengthens-financial-ties-with-tether-holdings-ltd-to-launch-billion-dollar-bitcoin-loan-initiative/