Bitcoin Advocate Lutnick Named Commerce Secretary

Howard Lutnick Confirmed as US Secretary of Commerce

• Howard Lutnick, former CEO of Cantor Fitzgerald, confirmed as US Secretary of Commerce with a 51-45 Senate vote.
• Lutnick will oversee the Department of Commerce’s economic policies, which involve 50,000 employees.
• He plans to implement trade policies including tariffs on imports, dismissing concerns about consumer price increases.
• The Trump administration has already imposed 10% tariffs on Chinese imports and increased taxes on steel and aluminum.
• Cantor Fitzgerald managed Tether’s US Treasury holdings backing the USDT stablecoin under Lutnick’s leadership.

Howard Lutnick’s confirmation as Secretary of Commerce by a narrow Senate vote highlights his role in advancing President Trump’s trade policies and managing the Department of Commerce’s operations.