The head of the trading company Cantor Fitzgerald has begun negotiations with the management of Tether about Cantor’s multi-billion dollar lending program. Cantor Fitzgerald holds a reserve of approximately $73 billion of Tether-owned US Treasuries as of 2021 and owns 5% of Tether.

Howard Lutnick in the Donald Trump administration was named the main contender for the position of the future US Secretary of Commerce. The businessman is an outspoken supporter of Tether and touts a “significant role” for dollar-backed stablecoins USDT in bolstering US global dominance, especially in countries with high inflation such as Argentina, Turkey and Venezuela.

“The hegemony of the dollar is fundamental to the United States of America. This is important for us, for our economy. That’s why I’m a fan of properly backed stablecoins, Tether and Circle,” said Howard Lutnick.

The Wall Street Journal said Lutnick could use his political influence to try to eliminate the threats facing the USDT stablecoin company. Lutnik is already involved in the pre-selection of candidates for government positions, including the leadership of regulatory bodies that may oversee Tether’s operations in the United States.

Earlier, the US Treasury Department publicly expressed concern about the activities of Tether. To eliminate the growing influence of the issuer on the financial market, it is necessary to replace the stablecoin with a central bank digital currency, the department believes.