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US President-elect Donald Trump 's pick for Commerce secretary, Howard Lutnick , is in talks to deepen his financial ties with the company operating the world's largest stablecoin, Tether , by launching a $2 billion project to lend dollars to clients against bitcoin, Bloomberg News reported on Sunday. Lutnick's financial services firm, Cantor Fitzgerald, is discussing receiving support from Tether to help fund the project, which could potentially reach tens of billions of dollars, the report said, citing people familiar with the matter. "Tether Investments is looking to use part of the profits generated in the past years for different opportunities", Tether said in an e-mailed response to Reuters.
Cantor Fitzgerald did not immediately respond to a Reuters request for comment outside business hours. Tether uses Cantor to hold billions of dollars worth of Treasuries that support the value of its stablecoin in a relationship that helps Lutnick's firm earn tens of millions of dollars annually, Bloomberg reported. Web Development Mastering Full Stack Development: From Frontend to Backend Excellence By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance Financial Literacy for Non-Finance Executives By - CA Raja, Chartered Accountant | Financial Management Educator | Former AVP - Credit, SBI View Program Marketing Digital Marketing Masterclass by Neil Patel By - Neil Patel, Co-Founder and Author at Neil Patel Digital Digital Marketing Guru View Program Web Development Java 21 Essentials for Beginners: Build Strong Programming Foundations By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) ChatGPT Mastery from Zero to Hero: The Complete AI Course By - Metla Sudha Sekhar, IT Specialist and Developer View Program Web Development Master RESTful APIs with Python and Django REST Framework: Web API Development By - Metla Sudha Sekhar, IT Specialist and Developer View Program Web Development Intermediate Java Mastery: Method, Collections, and Beyond By - Metla Sudha Sekhar, IT Specialist and Developer View Program Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance Crypto & NFT Mastery: From Basics to Advanced By - CA Raj K Agrawal, Chartered Accountant View Program Marketing Modern Marketing Masterclass by Seth Godin By - Seth Godin, Former dot com Business Executive and Best Selling Author View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Office Productivity Excel Essentials to Expert: Your Complete Guide By - Study At Home, Quality Education Anytime, Anywhere View Program Web Development Advanced Java Mastery: Object-Oriented Programming Techniques By - Metla Sudha Sekhar, IT Specialist and Developer View Program Leadership Validating Your Startup Idea: Steps to Ensure Market Fit By - Dr.
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dollar or euro. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Earlier this week, Trump said he would nominate Lutnick to lead his trade and tariff strategy as head of the Commerce Department. Lutnick would also have "additional direct responsibility" for the U.
S. Trade Representative's office. Lutnick has been known to promote the adoption of cryptocurrency .
The Commerce Department oversees a sprawling array of functions with nearly 47,000 employees, from the U.S. Census Bureau to weather forecasting, ocean navigation and investment promotion.
(Reporting by Kanjyik Ghosh and Disha Mishra; Editing by Elaine Hardcastle and Leslie Adler).
