WALL STREET CEO ON TETHER CONTROVERSY: 'THEY HAVE THE MONEY'

Summary from the TLDR Crypto newsletter

Cantor Fitzgerald's CEO Howard Lutnick came out and publicly defended the legitimacy of USDT, supporting the company's claims of having adequate funds backing the asset. Noting the firm's recent assertion that its reserves consist primarily of US Treasuries, Lutnick confirmed managing many of Tether's assets. Tether has long drawn the ire of skeptics who doubted that it had the reserves it claimed to, and this has created an overhang that many in the industry have constantly worried about.