Cantor Fitzgerald Chairman Brandon Lutnick Says He Personally Checked Tether’s Reserves

Cantor Fitzgerald Chairman Brandon Lutnick personally verified Tether’s reserves when the firm began its relationship with the stablecoin giant, he said on Wednesday at Consensus 2025 in Toronto.The 27-year-old said that in the early days of Cantor Fitzgerald and Tether’s relationship, there were “a lot of rumors” that Tether didn’t have the assets it claimed to have, referring to then-rampant speculation that Tether was not fully backed. New York Attorney General Letitia James alleged in 2019 that Tether had a nearly $1 billion hole in its books, though the regulator later settled these allegations with Tether and its sister firm, Bitfinex.“I personally checked a lot of their reserves, and we proved a lot of those rumors wrong,” Lutnick said source: https://www.coindesk.com/consensus-toronto-2025-coverage/2025/05/14/cantor-fitzgerald-chairman-brandon-lutnick-says-he-personally-checked-tethers-reserves