Author: Derek Andersen, CoinTelegraph; Compiler: Baishui, Golden Finance
US President-elect Donald Trump has appointed Howard Lutnick, CEO of Cantor Fitzgerald, as Secretary of Commerce. Lutnick has long been a supporter of cryptocurrencies.
The Secretary of Commerce is responsible for promoting American business at home and abroad. The Secretary of Defense is a member of the US Cabinet and the president's closest adviser. Lutnick is currently the co-leader of Trump's transition team and is seen as the most likely candidate for a cabinet position.
Lutnick has attracted attention from the crypto world for his relationship with stablecoin issuer Tether and his remarks on Bitcoin.
Cantor Fitzgerald, the Wall Street financial services firm that Lutnick has led since 1996 and has managed Tether’s U.S. Treasury portfolio since 2021 and its bond portfolio since 2023, requested a financial audit.
Lutnick has publicly expressed his confidence in Tether’s financial health on several occasions. He is also a “big fan” of Bitcoin, though his views on it may be unique. He said in January that a spot BTC ETF is a way for “Americans to buy” Bitcoin, but Bitcoin is “not an American thing.”
Lutnick was even more enthusiastic about Bitcoin during his appearance at the Bitcoin 2024 conference in July. “Cantor Fitzgerald is here to announce that we are launching a Bitcoin financing business. [...] We will provide $2 billion in loans.”
Details of the business have not yet been disclosed. Trump also attended the meeting.
Source: The Bitcoin Historian
In September, Lutnick told Fox News that Bitcoin is a commodity. He also criticized U.S. regulators, saying:
"Let's face it: They don't even know how to encrypt and digitize, and they don't; they still don't understand how important it is to get it right."
Lutnick will replace former Rhode Island Governor Gina Raimondo.
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