Howard Lutnick’s firm, Cantor Fitzgerald to work with Tether on $2B project

According to a recent Bloomberg report, financial services firm Cantor Fitzgerald, which serves as Tether's banking partner, is looking to work with the cryptocurrency issuer on a program that allows customers to borrow dollars against Bitcoin. While the company started lending on Bitcoin at $2 billion, it is expected to grow to tens of billions. Notably, Cantor Fitzgerald agreed to acquire a 5% stake in Tether last year for around $600 million. Earlier this week, President-elect Donald Trump nominated Cantor Fitzgerald CEO Howard Lutnick to be his next Commerce Secretary.