The chief executive officer of Wall Street brokerage Cantor Fitzgerald, Howard Lutnick, has two favourite cryptocurrencies: Tether (USDT) and Bitcoin (BTC).
“I am an enthusiast of cryptocurrency, specifically bitcoin, to be precise. In an interview with CNBC’s Money Movers podcast, he stated, “These other coins are just not a thing.” Given that Cantor Fitzgerald is one of the stablecoin’s stewards, Lutnick also declared his admiration for Tether. Charles Schwab (SCHW) and Fidelity are additional custodians.
The stablecoin Tether is one that I really like.My treasuries are theirs. Since they have a large amount of treasuries, I keep theirs,” he said. The decentralisation of bitcoin, which it hasn’t had trouble with unlike Ethereum or certain layer-1s, is what gives it value, according to Lutnick.
“What if everyone’s only resource was something they could hold and no one could take it? Bitcoin,” he said.
“With Ethereum, you can call Joe Lubin. With Tether, you can call Tether, and they’ll freeze it,” he said, making reference to the recent shutdown of wallets connected to sanctions.
Lubin has denied ever having more than 5% of the world’s ethereum supply under his and Consensys’ combined hands.