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https://www.ledgerinsights.com/cantor-fitzgerald-invests-in-stablecoin-issuer-tether-report/
Submission: On November 27 via api from ZA — Scanned from DE
Submission: On November 27 via api from ZA — Scanned from DE
Form analysis 4 forms found in the DOM
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</form>GET https://www.ledgerinsights.com/
<form class="vce-search-form" action="https://www.ledgerinsights.com/" method="get">
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</form>Text Content
Blockchain for business * News * Blockchain by industry * Advertising * Auto * Blockchain for Banking * Capital markets * Energy * Government * Health * Identity * Insurance * Legal and IP * Real estate * Retail * Supply chain * Tech-Media-Telecom * Travel & mobility * Digital currency * CBDC * Tokenized deposits * Stablecoins * Digital assets & Tokenization * Research * * * News * Blockchain by industry * Advertising * Auto * Blockchain for Banking * Capital markets * Energy * Government * Health * Identity * Insurance * Legal and IP * Real estate * Retail * Supply chain * Tech-Media-Telecom * Travel & mobility * Digital currency * CBDC * Tokenized deposits * Stablecoins * Digital assets & Tokenization * Research * * Blockchain for Banking • News CANTOR FITZGERALD INVESTS IN STABLECOIN ISSUER TETHER – REPORT November 25, 2024 by Ledger Insights Cantor Fitzgerald has invested in stablecoin issuer Tether during the past year, in a deal that would give the broker a 5% stake, which Cantor values at $600 million. That’s according to a Wall Street Journal report, citing sources. Cantor Fitzgerald CEO Howard Lutnick has been nominated to be US Secretary of Commerce and would divest his interest in Cantor to comply with government ethics rules. For the past two or three years Cantor Fitzgerald has provided custody for the Treasury securities that back the Tether stablecoin, which account for more than 80% of the $132 billion in assets that back the stablecoin. According to the Journal, the company makes tens of millions in fees for providing the service. Cantor’s role has expanded. It acted as placing agent for a $150 million investment made by Tether into crypto mining firm, Bitdeer. Lutnick’s son Brandon interned at Tether in Lugano in 2023. And Bloomberg discussions with Tether about the company providing funding for a planned Cantor Bitcoin lending program announced in July that will start at $2 billion. Bloomberg said the program had not yet launched and Tether would not be the only financier. Meanwhile, Tether is using the massive profits it has earned on its stablecoin to launch a separate investment arm which is branching out into other activities. One of them is commodities trade finance, starting with oil shipments. It also recently launched Hadron, an asset tokenization platform that it is making available to third parties that want to tokenized assets. Meanwhile, Tether is allegedly subject to an investigation by the Treasury and Justice Department for possible violations of anti money laundering and sanctions legislation, although it vehemently denies wrongdoing. In 2021 it entered into settlements with the CFTC and New York State Attorney General relating to misrepresentations about the stablecoin’s reserves. -------------------------------------------------------------------------------- Image Copyright: Bitcoin 2024 asset tokenization blockchain Cantor Fitzgerald cryptocurrency digital assets digital currency distributed ledger DLT lending Lutnick stablecoin Tether tokenization FacebookXRedditEmailLinkedInWhatsApp YOU MAY ALSO LIKE BIS, 7 CENTRAL BANKS SHARE VIEWS ON CBDC SYSTEM DESIGN, INCLUDING PRIVACY STANCHART’S ZODIA INKS CUSTODY DEAL WITH SECURITIZE, BLACKROCK’S TOKENIZATION PARTNER EIB ISSUES SECOND €100M DIGITAL BOND IN A WEEK USING WCBDC NY FED EXPLORES FINANCIAL STABILITY RISKS OF DIGITAL ASSETS AMPLIFIED BY LACK OF COHERENT REGULATION SCHWAB PLANNING TO OFFER CRYPTO TO INVESTORS WHEN REGULATIONS CHANGE AS EXPECTED SUBSCRIBE TO FREE NEWSLETTER ON BLOCKCHAIN FOR BUSINESS * Tassat partners Veuu for DLT-based health insurance payments Copyright © 2018 - 2024 Ledger Insights Ltd. * Terms and Conditions * Privacy and Cookies * Feed * About us * Contact * News * Blockchain by industry * Advertising * Auto * Blockchain for Banking * Capital markets * Energy * Government * Health * Identity * Insurance * Legal and IP * Real estate * Retail * Supply chain * Tech-Media-Telecom * Travel & mobility * Digital currency * CBDC * Tokenized deposits * Stablecoins * Digital assets & Tokenization * Research * *