Since the U.S. election, Tether has rapidly increased its market cap by over $4 billion, causing concerns over its financial stability and transparency. Howard Lutnick, CEO of Cantor Fitzgerald and a Trump transition team member, has defended Tether but has not provided any public proof of its reserves.
Lutnick has long criticized the Federal Reserve for excessive money printing, raising questions about his double standards and potential conflicts of interest. Ongoing regulatory investigations into Tether add pressure to the situation, and the rapid issuance has sparked calls for transparency in stablecoin markets.
