- Cantor Fitzgerald CEO Howard Lutnick will co-chair Donald Trump’s presidential transition team with WWE co-founder Linda McMahon.
- Cantor Fitzgerald has managed the treasury portfolio for stablecoin issuer Tether since 2021 and holds shares in several Bitcoin ETFs.
- The Trump campaign reiterated its commitment to the 2024 Republican Party platform, which includes opposing a central bank digital currency and defending Bitcoin mining rights.
Donald Trump has named the CEO of Cantor Fitzgerald, Howard Lutnick, as co-chair of his presidential transition team. Cantor Fitzgerald has deep ties to the crypto industry as the custodian bank that holds Tether’s reserves. This appointment signals Trump’s ongoing embrace of cryptocurrencies and blockchain technology.
About Howard Lutnick
Howard Lutnick is the CEO of Cantor Fitzgerald, a financial services firm that manages the treasury portfolio and reserves backing the stablecoin Tether. The company has held this responsibility since 2021.
Cantor Fitzgerald also recently launched a $2 billion Bitcoin lending program. Lutnick announced the program himself at the Bitcoin 2022 conference in July.
Lutnick is a known Bitcoin bull. He briefed the House Republican Conference last year on stablecoins and is considered a major crypto advocate.
The Trump Transition Team
In addition to Lutnick, the Trump transition team will also be co-chaired by Linda McMahon, co-founder of World Wrestling Entertainment.
The team is responsible for organizing policies and managing staff appointments if Trump wins the November 2024 election.
Lutnick and McMahon will serve alongside other honorary co-chairs like Senator JD Vance, Eric Trump, and Donald Trump Jr.
In the announcement, the Trump campaign reiterated its commitment to deliver on the “bold promises” in the 2024 Republican platform. This platform includes defending Bitcoin mining rights and opposing a central bank digital currency.
The Appointment’s Significance
The appointment of Lutnick is seen as a huge win for crypto. It demonstrates Trump’s ongoing embrace of the industry as he heads into the final months of the 2024 campaign.
The announcement also comes on the same day Democratic candidate Kamala Harris released her own economic policy agenda. Cryptocurrency regulation remains a key issue as the election enters its final stages.
