Cantor Fitzgerald President Brandon Lutnick personally checked Tether’s reserves when the company began his relationship with the stable giant, he told the 2025 consensus on Wednesday in Toronto.
The 27 -year -old said that at the start of Cantor Fitzgerald and Tether’s relationship, there were “many rumors” that Tether did not have the assets he claimed to have, referring to prompt speculations according to which Tether was not completely supported. The New York Attorney General, Letitia James allegedly allegedly alleged that Tether had a billion dollars hole in his books, although the regulator has established these allegations with Tether and his sister company, Bitfinex.
“I personally checked a lot of their reserves, and we have proven that many of these rumors were bad,” said Libnick. Tether maintained that it was fully supported, at least since its settlement with New York.
Lutnick was appointed President of Cantor Fitzgerald – the private parent company which controls the investment bank of the same name, the BCG brokerage group and the Newmark Group commercial real estate company – in February, shortly after the American president Donald Trump appointed his father, Cantor Fitzgerald, the former CEO of Howard Lutnick, US Trade Secratary.
Before taking the bar at Cantor Fitzgerald, Lutnick worked for the company in another executive role. He denied Bloomberg reports that he did an internship with Tether in Lugano, Switzerland in 2023.
“Bloomberg actually reported that I was an attachment intern. It is not true,” said Libnick. “But I learned a lot about the crypto of the tie guys – they folded Orange.”
