On August 16, Donald Trump's campaign announced that Cantor Fitzgerald CEO Howard Lutnick and WWE co-founder Linda McMahon would lead Trump's transition team. This team will be responsible for organizing policies and managing staff if Trump wins the presidency in November.
Team Announcement
Lutnick and McMahon, who have been significant donors to Trump's campaign, will co-chair the team alongside honorary chairs such as Ohio Senator JD Vance and Trump's sons, Eric Trump and Donald Trump Jr.
Lutnick's Role in Cryptocurrency
Cantor Fitzgerald has managed the Treasury portfolio for stablecoin issuer Tether since 2021. According to SEC filings on August 14, the firm holds shares in several Bitcoin ETFs including iShares Bitcoin Trust and Fidelity Wise Bitcoin Fund. Lutnick also announced the launch of a $2 billion Bitcoin lending program at the Bitcoin 2024 conference. Paradigm government affairs lead Alex Grieve noted that Lutnick's inclusion is significant for cryptocurrency.
Competition with Kamala Harris
On the same day the Trump team announcement was made, Democratic presidential candidate Kamala Harris released her economic policy agenda. Harris's plan addresses key issues such as grocery and housing costs and the Federal Reserve's independence. To date, the Harris campaign has not taken a public position on cryptocurrencies, though many of her Democratic colleagues are calling on her to establish clear regulations on the matter.
As the November election approaches, American voters will be closely watching the candidates' statements and positions on key issues, including cryptocurrency and blockchain technologies.
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