Senator Warren Questions Commerce Nominee Over Tether Ties

According to Foresight News, U.S. Democratic Senator Elizabeth Warren is pressing U.S. President Donald Trump's nominee for Commerce Secretary, Howard Lutnick, to clarify his and his company Cantor Fitzgerald LP's connections with Tether. This scrutiny has raised concerns about potential conflicts of interest ahead of Lutnick's confirmation hearing on Wednesday. Lutnick's financial disclosure did not list any investments in Tether or other cryptocurrencies, but it did reveal assets worth at least $806 million and involvement in over 800 corporate entities. Cantor Fitzgerald holds shares in Tether and plays a role in its operations. In his ethics agreement, Lutnick stated that he would divest all his shares in Cantor Fitzgerald and its affiliates if confirmed by the U.S. Senate. Warren questioned whether these measures are sufficient to prevent conflicts of interest, highlighting Lutnick's known support for Tether and his relationship with Tether's billionaire CFO, Giancarlo Devasini. She also expressed concerns about Lutnick's personal ties to his company, noting that his two sons work at Cantor Fitzgerald, and worried that Lutnick might continue to exert influence even after divesting his holdings.