Donald Trump has appointed Howard Lutnick, CEO of Cantor Fitzgerald, to co-lead his transition team, a move that highlights the growing influence of cryptocurrency in his potential administration. Lutnick, a major figure in the financial services industry, will play a key role in shaping policies and staffing decisions if Trump wins the 2024 U.S. presidential election.
Lutnick’s Crypto Advocacy and Potential Impact on Policy
Lutnick’s involvement could indicate a significant focus on digital assets and cryptocurrency within Trump’s administration. Under his leadership, Cantor Fitzgerald has been actively engaged in the crypto space, particularly through its management of Tether’s Treasury portfolio since 2021. Lutnick is also a well-known advocate for Bitcoin, having launched a $2 billion Bitcoin lending program at the Bitcoin 2024 event. His pro-Bitcoin stance suggests that crypto-related policies may become a central aspect of the administration’s economic agenda.
“I am a fan of Bitcoin. Cantor Fitzgerald is a fan of Bitcoin, and our investment bank is a rockstar in the digital asset space. We are just getting started,” Lutnick stated, indicating his strong commitment to the cryptocurrency sector.
WWE Co-Founder Linda McMahon Joins Transition Team
In addition to Lutnick, Trump has also appointed Linda McMahon, co-founder of WWE and former head of the Small Business Administration during Trump’s first term, to co-lead the transition team. McMahon’s involvement further solidifies the campaign’s ties to influential figures in the business world.
Lutnick, who has a long-standing relationship with Trump, expressed his enthusiasm for the role, highlighting Trump’s supportive stance on Bitcoin and innovation in the industry. “It’s exciting to see him take a supportive stance on Bitcoin, innovation in the industry, and its role in the US. A great friend and a great man,” Lutnick said in a social media post.
This development underscores Trump’s strategic move to align with the crypto sector, potentially shaping the future of digital assets in the United States.
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