Tether custodian Cantor Fitzgerald loves Tether, chief says
Cantor Fitzgerald chief Howard Lutnick recently appeared on CNBC’s Money Movers podcast and, in the process, discussed his financial firm’s relationship with leading stablecoin Tether. Lutnick was quick to share his opinions throughout the interview, including that stablecoins are great, Bitcoin is good for oligarchs, and Ethereum is incredibly centralized.
“I’m a big fan of this stablecoin called Tether… I hold their treasuries,” Lutnick said on the podcast. “So I keep their treasuries, and they have a lot of treasuries.”
Lutnick then highlighted that “they’re over $90 billion now.” This comment seems to refer not to the treasuries that Tether holds — since they only have $56.6 billion — but to the market cap of the token itself, which has recently broached $90 billion.
The 62-year-old chose to additionally highlight differences between Bitcoin and Tether, specifically highlighting how Tether will respond when the Department of Justice calls to request that tokens be frozen.
Cantor Fitzgerald chief a Tether fan, Bitcoin maxi
“I am a fan of crypto, but let me be very specific, bitcoin, just bitcoin. These other coins, they are just not a thing,” Lutnick said during the podcast.
The Cantor Fitzgerald CEO pointed towards the upcoming halving as a catalyst for Bitcoin, suggesting that historically, the halvings have been periods where Bitcoin has benefited. He also suggested that it will serve as a safety asset for those with concerns about the current fiscal policies of their governments.
Read more: Russian founder of sanctioned exchange Garantex starts Tether desk
He also chose to highlight how he perceives bitcoin as a more censorship-resistant and seizure-resistant asset for oligarchs, pointing out that sanctioned Russian individuals had their yachts seized but would not have bitcoin seized.
Lutnick also suggested that Ethereum lacked these same characteristics, inaccurately saying that if someone wanted to freeze assets on Ethereum, they could achieve this goal by reaching out to Joseph Lubin of Consensys.
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