Tether and Wall Street Collaborate on Groundbreaking Bitcoin Lending Initiative
Cantor Fitzgerald, led by CEO Howard Lutnick, is pursuing a major partnership with Tether Holdings to launch a multibillion-dollar bitcoin-backed lending program.
The initiative aims to allow clients to borrow dollars using bitcoin as collateral, starting with $2 billion in funding and potentially expanding into the tens of billions. Cantor Fitzgerald, a key player in global financial services, has already invested in Tether, acquiring a 5% stake valued at $600 million.
This move aligns with Cantor’s ongoing efforts to bridge traditional finance with digital assets. Lutnick, a vocal cryptocurrency advocate, also plays a pivotal role in President-elect Trump’s push for a pro-crypto agenda, including plans to establish a national bitcoin reserve.
Clever Robot News Desk 26th November 2024
