While rebuilding Cantor Fitzgerald from the ashes of 9/11, Howard Lutnick emerged as an unlikely champion of Bitcoin. After losing 658 employees in the terrorist attacks, he didn’t just rebuild – he revolutionized. His firm ventured into cryptocurrency, launching a $2 billion Bitcoin financing operation and managing Tether’s Treasury holdings. Unlike many crypto projects, his focus on utility token development helped create sustainable value within the ecosystem. Talk about a plot twist.
Now, with a Senate confirmation vote of 51-45, Lutnick has become the first openly pro-Bitcoin Cabinet member in Trump’s administration. Working with trade negotiator Jamieson Greer, Lutnick aims to reshape America’s international trade relationships. He’s ditched his CEO position at Cantor Fitzgerald and sold off his business interests – including that juicy $600 million stake in Tether – to play by the government’s rules. Michael Saylor and the Bitcoin crowd are practically doing cartwheels.
Pro-Bitcoin Wall Street veteran Howard Lutnick enters Trump’s Cabinet, divesting his crypto empire to take Commerce Secretary role.
As Commerce Secretary, Lutnick’s got his hands full managing 50,000 employees and everything from census operations to weather reports. But it’s his stance on trade that’s raising eyebrows. His early career at Cantor began when he joined in 1983 as a fresh graduate. He’s all in on Trump’s tariff-heavy agenda, dismissing inflation concerns with a wave of his hand. His approach? Simple: Take it country by country, and push back until they open their markets to U.S. exports.
The guy knows his crypto. At Cantor, he was the mastermind behind Tether’s Treasury holdings and pushed hard for stablecoin regulation. He’s got strong opinions too – while he compares Bitcoin to gold, he’s dismissed other cryptocurrencies as “not a thing.” Brutal, but clear.
Behind the business persona, there’s a philanthropist who put his money where his heart is. The Cantor Fitzgerald Relief Fund pumped $180 million into 9/11 families and provided healthcare coverage for a decade. The Navy even gave him their Distinguished Public Service Award.
Love him or hate him, Lutnick’s journey from 9/11 survivor to Bitcoin advocate to Commerce Secretary is one for the history books. Now he’s trading his corporate office for a government desk, ready to shape U.S. trade policy with the same determination that rebuilt Cantor Fitzgerald.
