Howard Lutnick, nominated by President Donald Trump to lead the Department of Commerce, is being scrutinized by Senator Elizabeth Warren regarding his connections to Tether, a leading stablecoin issuer. As CEO of Cantor Fitzgerald, which serves as the U.S. banker for Tether, Lutnick's involvement has raised concerns, particularly as Warren highlights the company's potential role in facilitating criminal activities linked to Tether's operations. In a letter to Lutnick, she emphasized his firm's responsibility in the abuse of Tether’s stablecoin, which has been implicated in numerous investigations globally. While Lutnick acknowledged Cantor Fitzgerald's services to Tether, he clarified that the firm does not hold a direct equity stake in the company. During his confirmation hearing, Lutnick expressed support for increased auditing requirements for stablecoin issuers, reflecting the heightened regulatory scrutiny in the cryptocurrency sector.

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