Trump pick Lutnick's firm in talks with Tether for $2 billion bitcoin lending project, Bloomberg reports

Quick Summary:

President-elect Donald Trump's pick for Commerce secretary, Howard Lutnick, is in talks to deepen his financial ties with the company operating the world's largest stablecoin, Tether, by launching a $2 billion project to lend dollars to clients against bitcoin, Bloomberg News reported on Sunday.

Lutnick would also have "additional direct responsibility" for the U.S.

The Commerce Department oversees a sprawling array of functions with nearly 47,000 employees, from the U.S.

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Category: EconomyBusiness

Markets: Singapore

Topics: Bloomberg Project Commerce Cantor Stablecoin Dollars Financial Trump Reported Lutnick Tether

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-25 @ 10:02:16 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 322 words

Reading Time: 2 minutes read

Sentences: 16 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23809730

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Official Website: channelnewsasia.com

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