Earlier this the Wall Street Journal (WSJ) reported that Cantor Fitzgerald helps to oversee the Tether stablecoin bond portfolio. In a CNBC podcast yesterday, Cantor CEO Howard Lutnick confirmed as much.
“I hold their Treasuries, and they have a lot of Treasuries. I’m a big fan of Tethers,” he said.
Tether has flourished and reinforced its dominant position amongst stablecoins, despite its unwillingness to disclose details about its reserve assets. In January Tether had a market capitalization that was 45% larger than USDC. Now its market cap has passed the $90 billion mark, more than three and half times that of USDC.
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