Bloomberg: Cantor in talks with Tether over $2 billion Bitcoin lending project
On November 24th, according to Bloomberg, Howard Lutnick is planning to strengthen his alliance with Tether Holdings Ltd., one of the most important and controversial companies in the digital asset industry. According to insiders, Lutnick is in talks with Tether to deepen financial cooperation between his companies and the company behind the world's largest stablecoin. Cantor Fitzgerald LP is in discussions with Tether to seek its support in advancing a plan aimed at providing billions of dollars in loans to customers who use Bitcoin as collateral. These insiders stated that they requested anonymity as they were not authorized to speak publicly. The funding for the project will start at $2 billion and is expected to eventually reach tens of billions of dollars, another insider told Bloomberg. Tether currently holds billions of US treasury bond through Cantor's custody business, which support the value of its dominant USDT stable currency. According to informed sources, this custody relationship brings Cantor tens of millions of dollars in revenue annually. Lutnick is the co chair of President elect Trump's transition team and was elected by Trump as the candidate in charge of the US Department of Commerce.