The president-elect of the United States, Donald Trump, continues to assemble the government team that will take office on January 20. Recently, it became known that Cantor Fitzgerald CEO Howard Lutnick will be the next Secretary of Commerce in the Republican administration. This businessman is among the supporters of Bitcoin and other cryptocurrencies.
For years, the largest Cryptocurrency has been occupying spaces within traditional finance. However, 2024 was the year of the big leap, with the IPO of the currency’s spot ETFs in the United States. Added to Trump’s support, everything seems to indicate that the merger between the TradFi and DeFi sectors will be a consolidated fact from 2025.
In that context, the nomination of key figures like Lutnick becomes a guarantee that the environment for the crypto world will be ideal. Lutnick’s financial services firm, Cantor, is among the traditional companies most supportive of digital currencies. In fact, during the Bitcoin 2024 Conference, Lutnick expressed words of praise towards BTC.
Likewise, Cantor also shows open sympathy for crypto companies such as Tether and its stablecoin USDT. The fact that this Bitcoin supporter becomes the new Secretary of Commerce of the world’s leading economy shows that Trump is ready to fulfill his promises with the crypto sector.
In a post on X, Lutnick welcomed the nomination and stressed that he is ready to be part of the best government administration in US history.
Thank you, President Trump for your trust in me to help Make America Great Again. As the next Secretary of Commerce, I will join the best administration the US has ever seen and unleash our full economic potential. pic.twitter.com/CTr0sdH6nt
— Howard Lutnick (@howardlutnick) November 19, 2024
A Bitcoin supporter in a key position in the Trump administration
During the day this Wednesday, the businessman was the first to make the news public on his X account. Subsequently, a statement from Trump confirmed the decision to make Lutnick the next Secretary of Commerce. This position is tasked with carrying forward the Trump administration’s trade, tariffs and economic agenda.
According to the president-elect, Lutnick’s ability is based on having created an efficient administration system. According to him, this potential in the top US trade position will create “the greatest administration the United States has ever seen.”
According to the businessman himself, his job will be to unleash the full economic potential of the United States. As already mentioned, Lutnick is a committed supporter of Bitcoin, which means that on this front there will be understanding with companies in the crypto world. His vision for Bitcoin is that the government should officially declare it a commodity.
In his opinion, Bitcoin is like gold or oil, as he stated in a recent interview with Fox. This means that regulators must stop seeing it as a financial asset similar to stocks.
It should be noted that Cantor Fitzgerald has been increasingly expanding its presence in the cryptocurrency sector. It has a direct relationship with the Federal Reserve and manages Tether’s USDT funds.
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