Former President Donald Trump is reportedly choosing Tether custodian CEO Cantor Fitzgerald to lead his transition team.
According to a new report from Politico, Trump is announcing that Howard Lutnick, the chairman and CEO of financial services firm Cantor Fitzgerald, will lead his transition team along with Linda McMahon, the former head of Trump’s Small Business Administration.
The report says Lutnick and McMahon will be responsible for overseeing the screening and hiring of potential administration officials, as well as developing policies that Trump can implement immediately if he wins the presidential race.
Cantor Fitzgerald has served as custodian of stablecoin Tether since 2021.
Earlier this year, Lutnick confirmed to Bloomberg that Tether’s reserves are multi-billion dollars and that Cantor Fitzgerald manages “a lot” of those assets for Tether.
In a post on social media platform
Last month, Cantor Fitzgerald announced plans to launch a $2 billion Bitcoin finance company in an effort to bridge the gap between traditional finance and digital assets.
Lutnick’s appointment by the Trump campaign comes weeks after pro-crypto Senator JD Vance was chosen as Trump’s running mate for the upcoming 2024 presidential election.
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