Catenaa, Thursday, November 21, 2024- President-elect Donald Trump on Novermber 19, announced Howard Lutnick, the CEO of Cantor Fitzgerald, as his nominee for Secretary of Commerce.
Lutnick, known for his outspoken support of Bitcoin and the cryptocurrency industry, has been a strong advocate for digital assets. His firm, Cantor Fitzgerald, has managed Tether’s U.S. Treasury and bond portfolios since 2021, furthering his influence in the crypto space. Lutnick has publicly criticized U.S. regulators for their stance on cryptocurrencies, labeling Bitcoin a commodity.
Initially, Lutnick sought the role of Treasury Secretary, hoping to use his deep ties to the financial and cryptocurrency sectors to shape regulation of digital assets.
However, Trump’s decision to appoint him as Commerce Secretary means Lutnick will have less control over cryptocurrency regulation. Nevertheless, his new role signals the administration’s continuing focus on crypto policy.
