Adam Back Says ‘Suck That Truthoors’ as Cantor Fitzgerald CEO Reveals Company Holds Tether’s Treasuries
Howard Lutnick, CEO of Cantor Fitzgerald, a Wall Street private financial services company, has recently confirmed that they lent their services to Tether, the issuer of the biggest stablecoin in the cryptocurrency market. On CNBC’s Money Movers, Lutnick stated that he was a fan of Tether and that they held their treasuries.
Cantor Fitzgerald CEO Howard Lutnick Is a Tether Fan
Howard Lutnick, CEO of private financial services firm Cantor Fitzgerald, has confirmed the business relationship between his company and Tether, issuers of USDT. During an interview at Money Movers, a CNBC podcast, Lutnick talked about cryptocurrency and his opinion about the value of some of the tokens in the industry.
He revealed:
I’m a big fan of the stablecoin called Tether. I hold their treasuries, I keep their treasuries, and they have a lot of treasuries. They are over $90bn now.
Furthermore, Lutnick mentioned Tether and the situation of Argentina, where Milei promised to dollarize the country without having a solid dollar reserve base. Lutnick also praised bitcoin, saying that it was the only “uncontrollable” asset because there was “no one you could call” to stop it.
In contrast, he acknowledged Tether was different. “If you have Tether, and someone calls Tether, they freeze it because there is someone to call. There’s no one to call in Bitcoin,” he stressed.
Lutnick’s statements officially confirm the reports on the Tether-Cantor link, which was established by the Wall Street Journal earlier this year, according to people familiar with the matter. According to the company’s latest financial disclosure report, Tether held more than $70 billion in U.S. Treasury bills in November, when its market cap was $84.80 billion.
Adam Back, Blockstream’s CEO and cryptographic innovator, celebrated the Cantor CEO’s affirmations by commending Tether CEO Paolo Ardoino’s alleged involvement in the subject.
He posted:
Can’t buy better media coverage than that, Paolo Ardoino … Suck that truthoors.
What do you think about Cantor Fitzgerald’s link with Tether? Tell us in the comments section below.
