Tether

Howard Lutnick, President Trump’s pick to run the Department of Commerce, is probed by the senator on the Tether connection of his firm, Cantor Fitzgerald.

The stablecoin behemoth is setting up shop for the group and its companies in the nascent crypto hub.

Under the new regulations only compliant stablecoins can be used as trading pairs in regulated markets, the report said.

The tokenization platform is part of Tether’s ambition to diversify its business from its $126 billion USDT stablecoin.

The USDT issuer is expanding in trade finance, seeking to carve out a niche in the $10 trillion ecosystem.

The company also owns a significant amount of gold and the big move higher in the yellow metal boosted profits.