Cantor Fitzgerald has a convertible bond with Tether, incoming Commerce Secretary Howard Lutnick said at his confirmation hearing, confirming previous reporting by The Wall Street Journal that

Even as he stumped for Donald Trump, Howard Lutnick’s commercial real estate firm was wooing clients across the southern border.

President Donald Trump's nominee to head the U.S. Commerce Department will tell senators on Wednesday he will "take a thoughtful and rigorous approach" to overseeing the agency but did not offer any specifics on tariffs or China policy.

Tether has undeniably played a pivotal role in bridging traditional finance with the digital currency world. However, its associations with illicit activities and concerns about transparency may pose systemic risks.

Howard Lutnick, President Trump's pick to run the Department of Commerce, is probed by the senator on the Tether connection of his firm, Cantor Fitzgerald.

The Senate Commerce Committee said on Wednesday it would hold a Jan. 29 hearing on President Donald Trump's nominee to lead the Commerce Department, the agency that has become a key U.S. tool in its efforts to constrain China's tech sector.

Floor signage for the offices of DeepSeek (C) is seen in Beijing on January 28, 2025. Fears of upheaval in the AI gold rush rocked Wall Street, following the emergence of a popular ChatGPT-like model from China, with US President Donald Trump saying it was a “wake-up call” for Silicon Valley. (Photo by PETER CATTERALL / AFP)

Howard Lutnick, whom Trump tapped for Commerce secretary, purchased a $25 million home; and Scott Bessent, whom Trump chose for Treasury secretary, is on the hunt, according to the Wall Street ...