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Author: Derek Andersen, CoinTelegraph; Compilation: Baishui, Bitchain Vision
U.S. President-elect Donald Trump has appointed Cantor Fitzgerald CEO Howard Lutnick as Commerce Secretary.Lutnik has long been a supporter of cryptocurrencies.
The Secretary of Commerce is responsible for promoting the development of business in the United States at home and abroad.The Secretary of Defense is a member of the U.S. Cabinet and the President’s closest adviser.Lutnik is currently co-head of Trump’s transition team and is seen as the candidate most likely to hold a cabinet position.
A billionaire caring for Tether’s billionaires
Lutnik has attracted attention from the crypto world for his relationship with stablecoin issuer Tether and his remarks about Bitcoin.
Canto Fitzgerald, a Wall Street financial services company led by Lutnik since 1996, has managed Tether’s U.S. Treasury portfolio since 2021 and has managed its bond portfolio since 2023, requiring a financial audit.
Lutnik has publicly expressed his confidence in Tether’s financial situation many times.He is also a “big fan” of Bitcoin, although his views on Bitcoin may be unique.He said in January that spot BTC ETFs are a way for “Americans to buy” Bitcoin, but that Bitcoin is “not Americans’ stuff.”
Lutnik likes Bitcoin
Lutnik was even more enthusiastic about Bitcoin when he attended the Bitcoin 2024 conference in July.“Cantor Fitzgerald here announces that we are launching a Bitcoin financing business. […] We will offer a $2 billion loan.”
Details of the business have not been disclosed.Trump also attended the meeting.
Source: The Bitcoin Historian
In September, Lutnik told Fox News that Bitcoin is a commodity.He also criticized the U.S. regulator, saying:
“Let’s face it: they don’t even know how to encrypt and digitize at all, and they don’t know; they still don’t understand how important it is to get things done well.”
Lutnik will replace former Rhode Island Governor Gina Raymondo.
