WSJ: $39 billion of Tether's reserve funds is managed by Cantor Fitzgerald

ChainCatcher news, according to The Wall Street Journal, currently the $39 billion USDT reserves of the stablecoin issuer Tether are managed by Wall Street bond trading giant Cantor Fitzgerald.

Tether reported earlier this week that as of the end of 2022, its assets amounted to $67 billion, of which $39.2 billion were U.S. Treasury bonds, with the remaining assets being money market funds and cash.

It is reported that Cantor Fitzgerald is privately owned and led by Howard Lutnick, and is one of the most well-known bond traders on Wall Street, as well as one of the 25 primary dealers of U.S. Treasury bonds that can trade directly with the Federal Reserve. (The Wall Street Journal)