Wall Street se adentra en los préstamos BTC》 La empresa de comercio de Trump, Cantor, ofrece un préstamo de miles de millones de dólares en BTC con garantía, donde su propio hijo solía trabajar en Tether.
Howard Lutnick, who was nominated as Secretary of Commerce by Trump last week, is reported to be seeking cooperation with Tether, the leader in stablecoins, through Cantor Fitzgerald, the financial services company he heads. They plan to launch a BTC collateral loan service with an initial funding size of $2 billion, with the potential to expand to billions of dollars in the future. According to Bloomberg, Cantor Fitzgerald is in negotiations with Tether to collaborate on the BTC collateral loan service. Cantor Fitzgerald will allow customers to borrow US dollars with BTC as collateral, with an initial funding size of $2 billion and an expected expansion to billions of dollars. The company is seeking funding from Tether for this project. Tether stated in response to Reuters, 'Tether Investments is seeking to allocate a portion of the profits generated in recent years to different opportunities.' Previously, Lutnick announced this BTC collateral loan program at the BTC conference in July, stating that Cantor Fitzgerald, as a staunch supporter of BTC, will provide leverage to those who hold BTC, and will establish a platform to support the financing needs of BTC investors. In the initial stage, $2 billion in loans will be provided. It is worth mentioning that Lutnick has established a partnership with Tether through custodial services. Since 2021, his company Cantor Fitzgerald has been managing Tether's US bond investment portfolio, which has helped Cantor earn tens of millions of dollars each year. According to Tether's latest reserve report for the third quarter of 2024, Tether's reserve assets amount to $125.5 billion, of which the amount directly and indirectly held in US Treasury bonds is as high as $102.5 billion, making Tether one of the top 18 US Treasury bond holders in the world. The Wall Street Journal reported over the weekend that Cantor Fitzgerald had already reached an investment agreement with Tether in 2023, acquiring a 5% stake in Tether. This 5% stake was valued at up to $600 million at the time of the agreement. If Howard Lutnick is successfully appointed as Secretary of Commerce next year, Tether is expected to receive more political support in the Trump administration. Howard Lutnick, who will become Secretary of Commerce, will be responsible for tariffs and trade policies in the future. He is currently the co-chair of Trump's transition team and has announced his resignation from Cantor Fitzgerald. Lutnick has expressed confidence in the financial stability of Tether on multiple occasions and has called himself a loyal fan of BTC, comparing BTC to gold and advocating that regulatory agencies classify BTC as a commodity rather than a security, similar to gold and oil. Trump's recent cabinet list includes officials who are friendly to cryptocurrencies. In addition to Howard Lutnick, there is Scott Bessent, a Cobertura fund manager nominated as Secretary of the Treasury, who supports Trump's establishment of a national strategic reserve for BTC and reducing regulation of cryptocurrencies. Hester Peirce, a Republican congressman who has been nicknamed the 'crypto mom' by the community, will serve as the acting chairman of the SEC after Gary Gensler resigns in January. After taking office, Howard Lutnick plans to hand over the future focus of Tether's business to colleagues. According to reports, his son Brandon Lutnick is likely the most favorable candidate and is currently working at Cantor. During his internship at Tether in Lugano, Brandon Lutnick participated in projects related to Tether's gold-backed tokens, with a total value of $660 million. This indicates his familiarity with Tether's token issuance-related business. It can be foreseen that during Trump's four-year term, US cryptocurrency regulation will actively move towards a friendly and supportive direction. Related reports: Trump to launch an exchange? His media company rumored to acquire a cryptocurrency platform Bakkt, stock price increases by 162% in one day. Tether completes a $45 million USDT crude oil transaction, targeting the $10 trillion trade financing market. Trump nominated Bessent as US Secretary of the Treasury. His stance on cryptocurrencies and support for BTC reserves. Cantor, a company headed by Trump's Secretary of Commerce, provides a multi-billion-dollar 'BTC collateral loan', and his son previously worked for Tether. This article was originally published on BlockTempo.
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Wall Street se adentra en los préstamos BTC》 La empresa de comercio de Trump, Cantor, ofrece un préstamo de miles de millones de dólares en BTC con garantía, donde su propio hijo solía trabajar en Tether.
Howard Lutnick, who was nominated as Secretary of Commerce by Trump last week, is reported to be seeking cooperation with Tether, the leader in stablecoins, through Cantor Fitzgerald, the financial services company he heads. They plan to launch a BTC collateral loan service with an initial funding size of $2 billion, with the potential to expand to billions of dollars in the future. According to Bloomberg, Cantor Fitzgerald is in negotiations with Tether to collaborate on the BTC collateral loan service. Cantor Fitzgerald will allow customers to borrow US dollars with BTC as collateral, with an initial funding size of $2 billion and an expected expansion to billions of dollars. The company is seeking funding from Tether for this project. Tether stated in response to Reuters, 'Tether Investments is seeking to allocate a portion of the profits generated in recent years to different opportunities.' Previously, Lutnick announced this BTC collateral loan program at the BTC conference in July, stating that Cantor Fitzgerald, as a staunch supporter of BTC, will provide leverage to those who hold BTC, and will establish a platform to support the financing needs of BTC investors. In the initial stage, $2 billion in loans will be provided. It is worth mentioning that Lutnick has established a partnership with Tether through custodial services. Since 2021, his company Cantor Fitzgerald has been managing Tether's US bond investment portfolio, which has helped Cantor earn tens of millions of dollars each year. According to Tether's latest reserve report for the third quarter of 2024, Tether's reserve assets amount to $125.5 billion, of which the amount directly and indirectly held in US Treasury bonds is as high as $102.5 billion, making Tether one of the top 18 US Treasury bond holders in the world. The Wall Street Journal reported over the weekend that Cantor Fitzgerald had already reached an investment agreement with Tether in 2023, acquiring a 5% stake in Tether. This 5% stake was valued at up to $600 million at the time of the agreement. If Howard Lutnick is successfully appointed as Secretary of Commerce next year, Tether is expected to receive more political support in the Trump administration. Howard Lutnick, who will become Secretary of Commerce, will be responsible for tariffs and trade policies in the future. He is currently the co-chair of Trump's transition team and has announced his resignation from Cantor Fitzgerald. Lutnick has expressed confidence in the financial stability of Tether on multiple occasions and has called himself a loyal fan of BTC, comparing BTC to gold and advocating that regulatory agencies classify BTC as a commodity rather than a security, similar to gold and oil. Trump's recent cabinet list includes officials who are friendly to cryptocurrencies. In addition to Howard Lutnick, there is Scott Bessent, a Cobertura fund manager nominated as Secretary of the Treasury, who supports Trump's establishment of a national strategic reserve for BTC and reducing regulation of cryptocurrencies. Hester Peirce, a Republican congressman who has been nicknamed the 'crypto mom' by the community, will serve as the acting chairman of the SEC after Gary Gensler resigns in January. After taking office, Howard Lutnick plans to hand over the future focus of Tether's business to colleagues. According to reports, his son Brandon Lutnick is likely the most favorable candidate and is currently working at Cantor. During his internship at Tether in Lugano, Brandon Lutnick participated in projects related to Tether's gold-backed tokens, with a total value of $660 million. This indicates his familiarity with Tether's token issuance-related business. It can be foreseen that during Trump's four-year term, US cryptocurrency regulation will actively move towards a friendly and supportive direction. Related reports: Trump to launch an exchange? His media company rumored to acquire a cryptocurrency platform Bakkt, stock price increases by 162% in one day. Tether completes a $45 million USDT crude oil transaction, targeting the $10 trillion trade financing market. Trump nominated Bessent as US Secretary of the Treasury. His stance on cryptocurrencies and support for BTC reserves. Cantor, a company headed by Trump's Secretary of Commerce, provides a multi-billion-dollar 'BTC collateral loan', and his son previously worked for Tether. This article was originally published on BlockTempo.