Tether spokesperson: The claim that it has a professional relationship with Cantor Fitzgerald and that its CEO Lutnick is influencing regulatory actions is completely unfounded

According to The Block, a spokesperson for Tether stated, "Tether's relationship with Cantor Fitzgerald is entirely professional and based on managing reserves. The claim that Howard Lutnick's joining the transition team implies some influence on regulatory action is unfounded Previously, The Wall Street Journal reported that sources revealed that Cantor Fitzgerald, a Wall Street financial services company, has agreed to acquire a 5% stake in Tether, a stablecoin issuer, in 2023. At the time of the agreement, the 5% stake was worth up to $600 million. This may mean that Tether will receive more political support as Howard Lutnick, CEO of Cantor Fitzgerald, was appointed as the Secretary of Commerce for US President elect Donald Trump on November 19th. Tether's largest shareholder Giancarlo Devasini has stated that 'Lutnick will use his political influence to attempt to defuse the threats faced by Tether'.