Tether Advocate Howard Lutnick Eyeing US Treasury Sec Job: Report
Highlights
- New report hinted that Howard Lutnick is under consideration for US Treasury Secretary
- The Cantor Fitzgerald CEO is part of President Trump's transition committee
- Industry experts consider him a good choice for the role
With President-elect Donald Trump currently making important appointments, reports have projected the name of Howard Lutnick, the CEO of financial services firm Cantor Fitzgerald as a top contender for US Treasury Sec role. With the push to do something different under the incoming Trump administration, the speculations around Lutnick is driving conversations on crypto X.
Howard Lutnick and the Treasury Sec Fit
As reported by Fox Business, the Cantor Fitzgerald CEO is working hard behind the scenes to get the job. Prior to this time, many speculated strongly that hedge fund manager Scott Bessent is the top pick for the job. Per the Fox Business report, the lobbying effort from Lutnick possibly account for the delay in announcing the pick for the position.
The Cantor Fitzgerald CEO, known for his strong backing of USDT issuer Tether Holdings is part of Trump’s pro-Bitcoin transition committee. As media reports pointed out, his bid for the Treasury Secretary role came at the 11th hour, placing pressure on the chances of Scott Bessent.
Interestingly, as a transition team member, Howard Lutnick gives a solid recommendation on who to appoint to different positions in the administration. As it stands, Fox Business noted that his nomination for the Treasury sec role might be to himself. However, the final decision lies in the hands of President Donald Trump.
Bessent raised a significant sum for the Trump campaign. He also served as economic advisor in the runup to the general elections. While Lutnick is more attuned to the Bitcoin vision of the incoming government, he is also an old Trump friend. What the actual factor to choose Janet Yellen’s replace boils down to President Trump.
The Right Pick For Crypto
The broader digital currency ecosystem has complained relentlessly about strict regulations. With a new administration, many believe all these will change.
While US regulators cracked down on Tether, Howard Lutnick often defends the stablecoin issuer’s reserve. This is because Cantor Fitzegerald manages most of the firm’s issuers. At the Bitcoin Conference 2024 event, the Cantor CEO made an appearance.
Some of the early conversations around Bitcoin Reserve came from Howard Lutnick. As such, he might have a profound industry impact if he serve in the Trump amidnistration.
- CEA Industries’ BNB Holdings Reach 480K as Binance Coin Hits New ATH of $1,300
- Peter Brandt Predicts XRP Could Drop to $2.2 If This Happens
- Fed’s Stephen Miran Says He’s ‘Sanguine’ on Inflation Outlook as He Backs More Rate Cuts
- S&P Launches Crypto 50 Index But There’s A Catch
- NYSE Owner ICE to Invest $2B in Polymarket as Interest in Prediction Markets Heats Up
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
- Cardano Price Consolidates Below Key Resistance Ahead of ETF Verdict — Is a 50% Rally in Sight?
- Solana Price Eyes 56% Rebound Amid Solana Company’s Massive $530M SOL Acquisition
- Ethereum’s Price Bullish Cycle Resumes as Grayscale Launches Spot Staking ETPs – Is $7,331 Next?
- Pi Network Price Risky Pattern Points to Crash as 14M Coins Leave OKX
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
