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Tether Custodian CEO Named New U.S. Secretary Of Commerce

Howard Lutnick has been named the new U.S. Secretary of Commerce by the Senate in a 51-45 vote. Lutnick previously served as CEO and Chairman of Tether custodian Cantor Fitzgerald.

Haider Jamal
February 25, 2025

Working With Congress

Following his victory, Howard stepped down immediately from his role at Cantor, passing the Chairmanship to his son, Brandon Lutnick. Tether CEO Paolo Ardoino is also working with Rep. Bryan Steil on the STABLE Act, a stablecoin bill introduced in Congress.

As the Chairman of the House Digital Assets Subcommittee, Bryan is co-sponsoring the bill with Rep. French Hill, who serves as the Chairman of the House Financial Services Committee.

A Change Of Heart

Despite Tether being under criminal investigation just a few months ago, Senator Cynthia Lummis, who previously called for the probe, has since changed her stance, voting to confirm Lutnick and praising Tether’s U.S. banker as a “friend” to the economy.

Moreover, with Lutnick now leading the Department of Commerce, the Owner-Operator Independent Drivers Association (OOIDA) hopes he will address national security concerns surrounding connected commercial vehicles.

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Haider Jamal

Content Strategist

Haider is a fintech enthusiast and Content Strategist at CryptoWeekly with over four years in the Crypto & Blockchain industry. He began his writing journey with a blog after graduating from Monash University Malaysia. Passionate about storytelling and content creation, he blends creativity with insight. Haider is driven to grow professionally while always seeking the next big idea.