Lutnick Pledges to Sell Firm, Discloses Its Bond With Tether
- Cantor Fitzgerald CEO says firm holds Tether convertible bond
- Lutnick pushes back against scrutiny of business holdings
Howard Lutnick, President Donald Trump’s pick to run the Commerce Department, said in his Senate hearing that he plans to sell all his business stakes if confirmed and for the first time acknowledged a bond his firm has with a controversial cryptocurrency client.
“I will sell all of my interests, all of my business interests, all of my assets, everything,” the longtime chief executive officer of Cantor Fitzgerald LP said Wednesday. “Upon confirmation, my business will be for sale,” he said, adding he will do so in 90 days.