Donald Trump's Transition Team to be Led by Howard Lutnick: Implications for the Crypto Industry

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Appointment of Howard Lutnick and Linda McMahon
  2. Lutnick's Support for the Crypto Industry
  3. Crypto Community's Reaction


    4. Donald Trump has announced that Howard Lutnick, CEO of Cantor Fitzgerald, will co-chair his transition team if he wins the election. Linda McMahon, a former U.S. Administrator of the Small Business Administration, will be joining Lutnick.

    Appointment of Howard Lutnick and Linda McMahon

    Donald Trump stated that Howard Lutnick, CEO of Cantor Fitzgerald, will co-chair his transition team. Linda McMahon, a former Administrator of the U.S. Small Business Administration, will also join the team. The event will be chaired by honorary chairmen—Trump’s vice presidential nominee J.D. Vance and his sons Eric and Donald Trump Jr.

    Lutnick's Support for the Crypto Industry

    Cantor Fitzgerald has been a custodian for Tether, the largest stablecoin, since late 2021. Lutnick has publicly supported the stability of Tether, stating that the company has adequate funds despite ongoing speculation about Tether’s reserves. This move is significant for the crypto industry, given Lutnick’s influence and bullish stance on crypto. Alexander Grieve from Paradigm highlighted, 'Inclusion of Howard Lutnick is huge for crypto. He personally briefed the House Republican Conference last year on stablecoins and is a big crypto bull.'

    Crypto Community's Reaction

    The influx of millions of dollars into super political action committees and Trump’s promise to cease an 'unlawful and un-American crackdown' on the U.S. crypto business have made cryptocurrency a major feature of the 2018 election season. The former president has also gained traction with the sector by appointing crypto-friendly J.D. Vance as his running partner and pledging to support Bitcoin miners. Meanwhile, Vice President candidate Kamala Harris has shown interest in the cryptocurrency sector, although her opinion on cryptocurrencies has yet to be publicly stated.

    The appointment of Howard Lutnick in Donald Trump's transition team could significantly impact the crypto industry. This move underscores the importance of cryptocurrencies and their growing role in the political arena.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Walt Introduces Standalone Android App for Cryptocurrency Trading

Walt has launched a standalone Android app for cryptocurrency trading, allowing users to sign up without a Telegram account.

user avatarEmily Carter

Charles Schwab Expands Crypto Trading Menu with New Altcoins

Charles Schwab has expanded its crypto trading menu to include Solana, Avalanche, and Chainlink, allowing eligible clients to trade a wider range of cryptocurrencies.

user avatarTomas Novak

24X and Standard Chartered Enhance Partnership for Institutional Crypto Trading

24X Bermuda expands its partnership with Standard Chartered to facilitate institutional trading of Bitcoin and Ether, enhancing access to cryptocurrency and foreign exchange.

user avatarKaterina Papadopoulou

Strategy's Dual Approach: Bitcoin Acquisition and Preferred Share Repurchase

On November 9, Strategy announced the acquisition of 1,036 additional Bitcoin alongside the repurchase of approximately 188 million STRC preferred shares.

user avatarMaya Lundqvist

Bitcoin Slips Toward $74,000 After Fed Governor Signals December Rate Hike

Bitcoin's value has dropped significantly, approaching the $74,000 level, as Federal Reserve Governor Christopher Waller voiced clear support for raising interest rates at the upcoming December FOMC meeting.

user avatarLeo van der Veen

MARA Reports Significant Bitcoin Sales and Loan Repayment

MARA disclosed significant Bitcoin sales and loan repayment, marking a strategic shift from holding to monetizing reserves.

user avatarLi Weicheng

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.