Howard Lutnick’s role in the Donald Trump administration will extend beyond the transition team. According to Punchbowl News, Trump-elect is expected to announce Lutnick as the next Secretary of Commerce. Howard Lutnick, Cantor Fitzgerald CEO and Tether supporter, could bring experience in both crypto and traditional finance to the Commerce Department.
Howard Lutnick
Positive reports from Punchbowl News and the Wall Street Journal have yet to be officially confirmed. However, Howard Lutnick has the right profile for the role. Lutnick, a longtime friend of Trump, has hosted many fundraisers for the president.
In previous reports, Cantor Fitzgerald CEO Lutnick was considered a candidate for U.S. Treasury Secretary. Although there are strong names such as Scott Bessent among the Treasury Department candidates, Lutnick is thought to have the experience for the job.
BREAKING NEWS – TRUMP is expected to appoint HOWARD LUTNICK as Secretary of Commerce. —Jake Sherman
If speculations are confirmed, Lutnick’s duties as Commerce Secretary will include representing American businesses in the president’s cabinet. Beyond this, it will make a broad contribution to supporting economic growth and development. Lutnick has at various times supported the idea of the Department of Government Efficiency (DOGE), which would increase government efficiency. DOGE is a new venture that will be led by Elon Musk.
Benefits to the Crypto Ecosystem
Howard Lutnick ran a business that provided custody of Tether, the currency behind USDT. Tether’s adoption, which has been deemed controversial by regulators, makes the Cantor Fitzgerald CEO valuable to many crypto advocates.
Bitcoin 
$91,409The name that openly supports is compatible with Trump’s crypto promises. When the same Minister candidate attended the Bitcoin Conference 2024, he said that he dreamed of a world where BTC was traded everywhere.
With Lutnick’s possible role, the industry is now focusing on who Trump will pick for the U.S. SEC and Treasury Department.
Howard Lutnick’s appointment as Secretary of Commerce could combine his experience in both traditional finance and crypto sectors.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
