Top Wall Street Firm Owns $600M Stake in Tether

Cantor Fitzgerald, a prominent Wall Street firm, is reportedly set to acquire a 5% stake in Tether, the largest issuer of stablecoins globally.

This partnership, which strengthens an already existing relationship between the two companies, was finalized last year and values Cantor’s stake in Tether at an estimated $600 million.

As one of Tether’s main banking partners, Cantor Fitzgerald’s involvement signals a deeper financial integration with the stablecoin giant, which has been led by Giancarlo Devasini, a key figure in the cryptocurrency space.

The deal also ties in with the rising political influence of Cantor Fitzgerald’s CEO, Howard Lutnick, who was appointed by President Trump to serve as Secretary of Commerce. Lutnick, a long-time advisor to Trump, is reportedly using his political clout to navigate regulatory challenges surrounding Tether, which has come under heightened scrutiny from authorities.

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Tether’s founders, including Devasini, have privately expressed optimism that Lutnick’s position will help safeguard the company from potential legal and regulatory threats.

As the ties between traditional financial institutions, cryptocurrency, and political power continue to grow, the relationship between Cantor Fitzgerald and Tether is likely to draw more attention.

With stablecoins facing increasing regulatory pressure, Lutnick’s influence in shaping U.S. economic policy could play a significant role in determining the future of this rapidly evolving space.

Kosta Gushterov