At Bitcoin 2024 in Nashville, Cantor Fitzgerald, Tether’s custodian for United States treasuries, introduced a brand new lending enterprise which is able to enable folks to get leverage on their bitcoin.
Cantor Fitzgerald chief exec Howard Lutnick reportedly acknowledged that it’s “going to launch with $2 billion in lending.”
The announcement famous that Cantor Fitzgerald “accomplice with choose bitcoin custodians” to launch this new enterprise line.
Lutnick additionally famous that the agency owns a “shitload” of bitcoin.
Protos has reached out to Cantor Fitzgerald to find out who it has partnered with for this new enterprise line, however at press, it has not responded.
Tether’s loans
In December 2022, Tether introduced its intention to “scale back secured loans in Tether’s reserves to zero.”
Regardless of this, Tether nonetheless has secured loans, but it surely now considers them ‘extra reserves’ and states they “received’t have any impression on the token reserves.”
Apparently, Tether’s most up-to-date attestation exhibits that its secured lending enterprise has grown to a price of $6.57 billion, a rise of almost $1.9 billion because the final attestation.
Learn extra: Tether says it makes cash however can’t ditch loans
Protos has reached out to Tether to find out if it has taken on new purchasers to this enterprise in latest months, however at press, it has not responded.
It’s not at the moment clear precisely why Cantor Fitzgerald and Tether’s lending companies have grown by almost the identical quantity in latest months.
