Trump nominates 'Crypto Proponent' Howard Lutnick as Commerce Secretary, while US SEC chairman struggles to narrow down candidates to four.
US President-elect Donald Trump has nominated US investment bank Cantor Fitzgerald CEO Howard Lutnick to serve as Secretary of Commerce, according to the Wall Street Journal (WSJ). Lutnick is an avid supporter of Bitcoin and Tether (USDT), with Cantor Fitzgerald reportedly serving as Tether's U.S. Treasury bond custodian for several years. Rutnick also revealed at the Bitcoin 2024 conference in July that Cantor Fitzgerald will launch a Bitcoin finance business to provide leverage to Bitcoin holders, with $2 billion in loans allocated for initial funding. Howard Rutnick has previously thrown his hat in the ring for the position of Treasury Secretary in the Trump administration, but it is reported that Trump wants to appoint him as Secretary of Commerce rather than Treasury.
Meanwhile, according to a source familiar with the matter, “U.S. President-elect Donald Trump's team has not yet picked the next chairman of the U.S. Securities and Exchange Commission (SEC). However, it appears to have narrowed the field to four finalists: Robinhood Chief Legal Officer Dan Gallagher, former SEC Commissioner Paul Atkins, Wilkie Farr & Gallagher partner Robert Stevins, and Paul Hastings partner Brad Bondi.” A spokesperson for President Trump's office said that the next SEC chairman will be announced through official channels once a decision is made. Earlier, Fox Business senior correspondent Charles Gasparino reported that pro-cryptocurrency Paul Atkins was on the shortlist to become the next SEC chairman.
