PANews reported on November 20 that according to a statement released by the Trump transition team, Trump officially announced the appointment of Howard Lutnick, chairman and CEO of Cantor Fitzgerald, as the next U.S. Secretary of Commerce. Lutnick will be responsible for leading the U.S. tariff and trade agenda and will be directly responsible for the relevant work of the Office of the U.S. Trade Representative.

It is reported that Cantor Fitzgerald has been the custodian of Tether since the end of 2021, and Howard Lutnick is considered a supporter of cryptocurrency.