Cantor Fitzgerald Deepens Tether Ties With 5% Stake Acquisition
Cantor Fitzgerald, a well-known American financial services company, is expanding its alliance with Tether, a major player in the digital asset industry and the issuer of the world’s largest financial institution. Stablecoin.
The company has reportedly agreed to acquire a 5% stake in Tether as part of a broader collaboration that includes a Bitcoin-backed lending program.
Cantor Fitzgerald deepens cooperation, Tether mints $13 billion USDT
Acquisition talks are reportedly set to be completed in 2023, valuing the 5% stake at approximately $600 million. This partnership enables Tether to gain strategic advantages, especially in Cantor Fitzgerald CEO Howard Lutnicktaking on the new role of Secretary of Commerce President-elect Donald Trump.
Market watchers believe the nomination raises the possibility of increased regulatory support for Tether, which faces scrutiny for possible breaches of sanctions and anti-money laundering regulations, a claim the company denies. However, Lutnick has pledged to resign upon Cantor’s Senate confirmation.
In addition to ownership, Tether is expected to support Cantor Fitzgerald’s Bitcoin Lending Plana multi-billion dollar initiative. The program, which aims to provide Bitcoin-backed loans, initially raised $2 billion, with plans to expand significantly in the future.
Meanwhile, Cantor Fitzgerald is already a key partner of Tether, reportedly holding a significant stake in the company. Stablecoin issuers have $134 billion in reserves In U.S. Treasury Bills.
As Cantor Fitzgerald deepens its partnership with Tether, the company continues its Aggressive token minting. On November 24, blockchain analysis platform Lookonchain report The stablecoin company minted an additional $3 billion in USDT, bringing the total value minted since November 8 to $13 billion. This expansion brings the total supply of USDT to approximately $132 billion.
increased USDT supply Possibly reflecting growing demand for stablecoins, which are often used to hedge market positions or facilitate cryptocurrency trading without the need for conversion to fiat currency. This liquidity inflow may be reduced volatility And enhance the price stability of the entire digital asset market.
The surge in USDT supply and Bitcoin leads broader market rally as well as other assets such as Dogecoin and Solanamarking the return of investor confidence in the crypto ecosystem.
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