Cantor Fitzgerald CEO Confirms Tether’s Financial Backing

In a recent discussion at the World Economic Forum in Davos, Switzerland, Howard Lutnick, CEO of Cantor Fitzgerald, brought up significant points regarding Tether's financial health and the broader market. 

Notably, his comments have received limited attention from mainstream media (MSM), especially in the context of Tether's past controversies and the media's long-standing skepticism towards it.

Lutnick, whose firm manages Tether Holdings' U.S. Treasury securities portfolio, has a key role that enables him to closely evaluate and understand Tether's financial health.

He expressed confidence in Tether's stability and Bitcoin's future, particularly in light of the upcoming Bitcoin halving.

Bitcoin is going to stay steady, but when the halving comes, it’s going to start to rally and grow.

Over the years, Tether has often been the focal point of criticism and speculation in the industry, especially by journalists and media outlets. 

Despite other companies in the space facing severe issues, Tether has remained a primary target for scrutiny. This selective attention by the media has raised questions about the objectivity and thoroughness of reporting in the sector.

Lutnick's recent assurances about Tether's financial reserves, based on his company's detailed investigation, contrast sharply with the narrative often portrayed in the media.

I manage many, many of their assets. […] From what we’ve seen, and we did a lot of work, they have the money they say they have.

Tether has regularly provided attestations conducted by BDO, a top 5 accounting firm, since August 2022. These attestations offer additional assurance about the accuracy of Tether's reported reserves, adding another layer of credibility to the company's financial claims.

Moreover, Tether's efforts to improve transparency, including its settlement with the New York Attorney General and plans for a real-time reserve reporting system, have not received proportionate coverage.