Elizabeth Warren Pressures Trump’s Commerce Secretary Pick Howard Lutnick Over Tether Links Ahead Of Key Senate Hearing
Sen. Elizabeth Warren (D-Mass.) demanded answers from Commerce Secretary nominee Howard Lutnick on Tuesday with regard to his association with the controversial stablecoin-issuing company Tether (CRYPTO: USDT).
What Happened: Warren wrote a letter to Lutnick, questioning potential financial conflicts arising out of the relationship between his firm, Cantor Fitzgerald, and Tether.
Cantor, Tether’s Wall Street custodian, holds billions of dollars in U.S. Treasuries to support the USDT stablecoin—a cryptocurrency increasingly used to facilitate unlawful activities.
“In particular, your deep involvement with and support for Tether, a known facilitator of criminal activity that has been described as ‘outlaws’ favorite cryptocurrency’ raises concerns about your …
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