• Cantor Fitzgerald, a Wall Street bond trading powerhouse, is managing $39 billion of Tether’s reserves.
• The reserves are part of the $67 billion in bonds, cash and loans backing Tether’s stablecoin (USDT).
• Tether reported assets at year-end 2022 of $67 billion, with the majority in U.S. Treasury bills.
Cantor Fitzgerald Managing Tether’s Reserves
FinanceStablecoin Issuer Tether’s Reserves Partly Managed by Cantor Fitzgerald: WSJThe Wall Street bond trading powerhouse is managing Tether’s $39 billion bond portfolio, according to the report.
Tether’s Assets
Tether earlier this week reported assets at year-end 2022 of $67 billion, $39.2 billion of which were in U.S. Treasury bills. The rest of the assets were in money market funds, cash and other items. According to the WSJ report, Cantor is managing a $39 billion bond portfolio for the stablecoin issuer.
Cantor Fitzgerald Overview
Privately held and led by Howard Lutnick, Cantor Fitzgerald is among the best-known bond trading houses on Wall Street, and one of 25 primary dealers for U.S. Treasurys, allowing direct trade with the Federal Reserve.
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