Crypto NewsNewsWall Street's Billionaire CEO Puts an End to Allegations About Tether: Do...

Wall Street’s Billionaire CEO Puts an End to Allegations About Tether: Do Dollars Backing USDT Really Exist?

Cantor Fitzgerald CEO Howard Lutnick talked about Tether's controversial reserves in his statement.

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Cantor Fitzgerald CEO Howard Lutnick, who has a fortune of $1.5 billion, touched on the ongoing debates about Tether's (USDT) stablecoin assets and stated firmly that the company actually owns the assets it claims to support its stablecoin.

“They really own the assets,” Lutnick said in an interview on Bloomberg TV, referring to Tether’s holdings. This statement came as a strong validation for USDT from a prominent and influential figure on Wall Street. Lutnick's firm, Cantor Fitzgerald, is among Wall Street's best-known bond dealers and is one of 25 primary dealers for U.S. Treasuries allowed to trade directly with the Federal Reserve.

Lutnick added that he sees Tether's holdings.

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Lutnick appeared to be referring to Tether's latest audit report, which showed Tether held $86.4 billion in assets in reserve as of Sept. 30, against $83.2 billion in liabilities.

In addition to his comments on Tether, Lutnick also shared his views on the overall cryptocurrency market. He expressed his optimism about the future of Bitcoin and stated that he believes it will grow.

*This is not investment advice.

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