Donald Trump Names Pro-Bitcoin Howard Lutnick To Lead Transition Team
Highlights
- Cantor Fitzgerald CEO will co-Chair Trump's transition team
- Donald Trump Jr and Eric Trump are also members of the pro-crypto team
- Democrats are making moves to play catch up in pro-crypto moves ahead of election
Howard Lutnick, the CEO of American financial services firm Cantor Fitzgerald will co-Chair the Donald Trump transition team. Should the former President win a re-election in November, he will co-lead the transition with Linda McMahon, one of the officials who served in his first tenure.
Donald Trump and Howard Lutnick: The Crypto Undertone
As reported by The Hill, the two senior sons of the President will also be part of the transition team. Since this election campaign started, the Presidential candidates have made strategic decisions. Onboarding the Cantor Fitzgerald CEO, known for his pro-Bitcoin stance remains a major crypto move.
The financial services firm has been a major custodian for USDT stablecoin issuer Tether since 2021. Of the major Wall Street financial service firms, Lutnick is one of the strongest advocates for Tether. Beyond this, the firm is pursuing a major Bitcoin agenda.
As part of the speakers at the last Bitcoin Conference 2024, the Cantor CEO announced the launch of a $2 billion Bitcoin financing fund for the coin’s holders. The CEO also highlighted that Cantor Fitzgerald holds a large amount of Bitcoin.
That Donald Trump named him as a key member of his transition team speaks volume. Crypto proponents have continued to push for advocates in governments that can help shape the future of the industry. The transition team as announced by the former President will also feature his two senior sons, both of whom also have a bullish stance on crypto.
As reported earlier, the official Telegram Channel for the family’s big DeFi project is live, with current member count now exceeding 20380.
Kamala Harris to Play Catch-up
The digital currency ecosystem is a major battleground for the top White House hopefuls including Vice President Kamala Harris. While Donald Trump appears steps ahead with his strategic pro-crypto moves, the Harris camp is also making efforts to play catch-up.
After massive industry backlash, some top Democrat like Majority Leader Chuck Schumer has committed to passing sensible crypto regulations by the end of the year. Republican lawmakers have welcomed this position with plans to work in a bipartisan way to achieve this.
As a means for the industry to get ahead of the game, crypto Super PAC Fairshake is funding candidates who can drive crypto agenda in Congress. With few months left to the general election, the industry expects more proactive moves from Kamala Harris.
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