Howard Lutnick, the supporter behind Tether, is a major fundraiser for Trump

According to DL News, with Trump's election victory, cryptocurrency users have flocked to the stablecoin Tether. Data from DefiLlama shows that since the end of the US election on November 6th, Tether's total market value has risen nearly 6%, exceeding $127 billion. The rise of Tether brought Howard Lutnick, CEO of New York financial services company Cantor Fitzgerald, into focus. Cantor Fitzgerald manages U.S. Treasury bonds for Tether and Howard Lutnick has repeatedly guaranteed for this stablecoin giant which has been under strict scrutiny for years due to its refusal to publish complete audit results of its reserves. It is reported that Howard Lutnic is a major fundraiser for Trump and also co-chairman of Trump's transition team. Now as Trump is about to take office in January next year, Howard Lutnick will get an important seat in his cabinet; it is said he is one of the nominees for Secretary of Treasury proposed by Trump with Polymarket predicting market believes there’s a 26% chance he gets nominated.