Cantor Fitzgerald Chairman Brandon Lutnick said he personally reviewed Tether’s reserves

Cantor Fitzgerald chairman Brandon Lutnick personally verified Tether’s reserves when the firm began his relationship with Stablecoin giant, he said on Wednesday at Consensus 2025 in Toronto.

The 27-year-old said that in the early days of the relationship of Cantor Fitzgerald and Tether, there was “Lots of rumors” Tether is not completely that -back. New York Attorney General Letitia James said in 2019 that Tether had a nearly $ 1 billion hole in his books, though the regulator eventually arranged these allegations with Tether and his firm Bitfinex.

“I personally reviewed many reserves, and we have proven many rumors,” Lutnick said. Tether maintained that it was completely back -up, at least since its remodeling in New York.

Lutnick was appointed chairman of Cantor Fitzgerald – the private parent company that controls bank investment of the same name, BCG group brokerage, and commercial real estate Newmark Group – February, shortly after US President Donald Trump named his father Cantor Fitzgerald, Howard Lutnick, Cantor Fitzgerald Hose of the US.

Before taking a helmet at Cantor Fitzgerald, Lutnick worked for the firm in another executive role. He denied reports from Bloomberg that he was in internation with Tether in Lugano, Switzerland in 2023.

“Bloomberg really reported that I was a tether intern. That’s not true,” Lutnick said. “But I learned a lot about crypto from Tether Guys-they fill me with orange.”