Financial giant Cantor Fitzgerald has significantly expanded its presence in the cryptocurrency market. The company has acquired a 5% stake in the issuer of the USDT stablecoin, Tether. The deal, concluded back in 2023, is valued at $600 million.
The acquisition did not come as a surprise to the industry, given the long-standing and close partnership between the two companies. Cantor Fitzgerald has long served as the primary bank for Tether, managing a significant portion of USDT reserves, estimated at $134 billion.
Cantor Fitzgerald CEO Howard Lutnick has repeatedly spoken positively about Tether’s financial position and the potential of the USDT stablecoin. He expressed confidence that USDT can become an important tool for stabilizing the economies of countries with high inflation.
