Trump’s Commerce Secretary Partners with Tether

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                <p class="elementor-heading-title elementor-size-default">OVERVIEW</p>              </div>
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                                <p>Recently, Howard Lutnick, President-elect Trump’s nominee for Commerce Secretary, has entered negotiations with Tether, the world’s largest stablecoin operator. Together, they aim to launch a project offering <strong>dollar loans collateralized by Bitcoin</strong>, starting with an initial funding of <strong>$2 billion</strong>, potentially scaling to tens of billions. Amidst this development, U.S. national debt has surpassed <strong>$36 trillion</strong>, and Trump’s proposal for a <strong>Bitcoin strategic reserve</strong> has drawn significant attention.</p>                              </div>
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            Table of Contents           </h4>
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                <h2 class="elementor-heading-title elementor-size-default">Background: Bitcoin as a Potential Solution to the National Debt Crisis</h2>             </div>
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                                <p>Tether, whose reserves are partially managed by Lutnick’s financial firm <strong>Cantor Fitzgerald</strong>, reportedly oversees $39.2 billion of Tether’s stablecoin reserves. This firm, a primary dealer authorized to trade directly with the Federal Reserve, generates tens of millions annually through these operations.</p>

Trump’s proposed Bitcoin strategic reserve is not a new idea. The concept gained traction in July 2024, when German lawmaker Joana Cotar criticized her government for selling Bitcoin and suggested it be treated as a strategic reserve currency. Shortly after, Trump publicly endorsed a similar strategy, connecting Bitcoin to the solution for U.S. debt and inflation challenges.