[Donald Trump Nominates Cryptocurrency Supporter Lutnick As Secretary Of Commerce] US President-elect Donald Trump Has Chosen Howard Lutnick, CEO Of Cantor Fitzgerald, To Serve As Secretary Of Commerce. Lutnick Has Long Been Seen As A Supporter Of Cryptocurrencies. The Secretary Of Commerce Is Responsible For Promoting Business Development In The United States And Abroad, And Is A Member Of The US Cabinet And One Of The President's Closest Advisers. Lutnick Is Currently Co-leading The Trump Transition Team And Is Considered The Most Likely Candidate For The Position. Lutnick Has Attracted Widespread Attention In The Cryptocurrency Field For His Association With Stablecoin Issuer Tether And His Remarks On Bitcoin. Cantor Fitzgerald, A Wall Street Financial Services Company Led By Lutnick Since 1996, Has Managed Tether's U.S. Treasury Portfolio Since 2021 And Will Take Over Its Bond Portfolio From 2023. Tether Currently Has A Market Value Of $129 Billion, But Has Been Criticized For Its Accounting Practices And Calls For Refusing Financial Audits. Lutnick Has Publicly Expressed Confidence In Tether's Financial Situation On Many Occasions. He Is Also A "huge Fan" Of Bitcoin, Although His Views Are Quite Unique. In January, He Said That A Spot Bitcoin ETF Is "a Way For Americans To Buy Bitcoin," But Bitcoin "is Not An American Thing." Lutnick Was More Enthusiastic At The Bitcoin 2024 Conference In July. He Said: "Cantor Fitzgerald Announced Today That We Will Launch A Bitcoin Financing Business... We Plan To Start With A $2 Billion Loan." In September, Lutnick Called Bitcoin A Commodity In An Interview With Fox News. He Also Criticized US Regulators, Stating: "Frankly, They Don't Understand Cryptocurrencies And Digital Assets At All. They Have No Idea How To Deal With It And How Important It Is To Do It Right." Lutnick Will Succeed Former Rhode Island Governor Gina Raimondo As Secretary Of Commerce