PANews reported on December 13 that Cantor Fitzgerald, a broker associated with Tether, has reached a settlement with the U.S. Securities and Exchange Commission (SEC) and paid a $6.75 million fine. The SEC accused its two special purpose acquisition companies (SPACs) of making misleading statements to investors before their IPOs, raising $750 million. Cantor Fitzgerald did not admit or deny the allegations.
In addition, Cantor Fitzgerald's connection with Tether has attracted attention. It holds a 5% stake in Tether, worth up to $600 million, and manages most of Tether's $134 billion in assets, charging tens of millions of dollars in fees. CEO Howard Lutnick will lead the Trump administration's Department of Commerce and served as co-chairman of Trump's transition team.
