Cantor Fitzgerald has agreed to a 5% ownership stake in Tether valued at approximately $600 million, according to the Wall Street Journal.

Cantor Fitzgerald agreed to buy a 5% stake in Tether; its ties to Howard Lutnick's firm could bring more political support under Trump, a report said.

Cantor Fitzgerald has agreed to acquire approximately a 5% ownership stake in Tether, valued at around $600 million.

Financial services giant Cantor Fitzgerald reportedly owns a 5% stake in stablecoin issuer Tether, a position potentially worth $600 million

WASHINGTON — President-elect Donald Trump said Tuesday that he will nominate key transition adviser and billionaire financial services executive Howard Lutnick to lead the Commerce Department.

Cantor Fitzgerald, whose CEO is the Secretary of Commerce nominee, has an extensive history with the company that runs the world's largest stablecoin.

Howard Lutnick is moving to strengthen his alliance with one of the most important and controversial names in the digital-asset business: Tether Holdings Ltd.

The unlaunched lending initiative will start with $2 billion in funds, which could eventually grow to tens of billions of dollars.

Howard Lutnick's Cantor Fitzgerald in talks with Tether to launch Bitcoin lending program worth billions; Tether probed by federal government.