Howard Lutnick and Linda McMahon to be Donald Trump's new presidential transition team

Howard Lutnick, CEO of Cantor Fitzgerald, is set to co-chair Donald Trump’s presidential transition team, alongside Linda McMahon, co-founder of World Wrestling Entertainment.

Both figures are prominent backers of Trump, contributing significant financial support to his campaign.

Lutnick’s role extends beyond politics. His firm, Cantor Fitzgerald, has been managing Tether’s Treasury portfolio since 2021, underscoring his involvement in the cryptocurrency space.

Recent filings with the Securities and Exchange Commission indicate that Cantor Fitzgerald holds considerable investments in Bitcoin-focused exchange-traded funds (ETFs), including BlackRock’s iShares Bitcoin Trust.

Lutnick’s commitment to Bitcoin is further evidenced by his announcement of a $2 billion lending program at the Bitcoin 2024 conference.

This move aligns with the broader Republican platform, which opposes the creation of a central bank digital currency and supports Bitcoin mining rights.

The transition team announcement coincided with Democratic candidate Kamala Harris unveiling her economic policy agenda.

While Harris has not explicitly addressed cryptocurrency, the tight race between her and Trump adds a layer of uncertainty to the upcoming election.