Howard Lootnick, former CEO of Cantor Fitzgerald and the well -known Bitcoin lawyer, as the new US Trade Minister.
The Senate approved his nomination with a vote 51-45, and put him in a major position in the administration of President Donald Trump.
Congratulations to the new Minister of Trade Howard Lottenic!
After confirmation, many supporters of Bitcoin congratulated, including Michael Sailor and Senator Centeh Lomes, Lottenic.
Silor highlighted the LUTNICK long support for Bitcoin, while Lummis expressed optimism about his role in advancing economic growth.
As the Minister of Commerce, Lutnick will supervise the economic policies of the administration, which include data management, the conduct of the national census, and the supervision of weather control through 50,000 employees.
It is also expected to play a major role in Trump’s commercial strategy, which includes a tariff on imports.
During his confirmation session, he rejected concerns about the high prices of consumers due to the customs tariff and argued that the approach of each case separately in commercial duties will ensure fair competition.
The Trump administration has already implemented a 10 % tariff on Chinese imports, as well as steel and aluminum taxes.
However, the proposed definitions were postponed by 25 % on Canadian and Mexican goods until March 4.
Howard Lootnick: From Wall Street to Washington
Before his appointment, he led Lutnick Cantor Fitzgerland, a major financial company.
He played a decisive role in rebuilding the company after September 11, 2001, attacks, which killed 658 employees, including his brother.
Just in: Senate Howard Lootnick as Minister of Trade, from 51 to 45. Lottenic lost more than 650 friends, family members and employees at the World Trade Center on September 11, 2001. This is one of the most powerful stories you are on. ”I heard ever before .
Under his leadership, Cantor Fitzgerald expanded its mark into various financial sectors, including the encrypted currency.
The company managed to manage the US Treasury in Tether, which supports USDT Stablecoin and led the Bitcoin Financing Initiative worth $ 2 billion.
After his confirmation, Lutnick stepped down from his role in Cantor Fitzgerland and ignoring his commercial interests to comply with government ethics regulations.
Howard Lootnick support for Bitcoin and Stablecoin
Lutnick was a voice supporter of Bitcoin, similar to gold and calling for his free trade worldwide.
He spoke at the Bitcoin conference earlier this year, he said: “Bitcoin is like gold and must be freedly traded everywhere.”
Howard Lootnick: “Traditional financial services companies want to deal with them #BitcoinBut they need the organizer to say it is fine. “
He also criticized the lack of regulatory clarity surrounding digital assets in the United States and pushing the policies that merge bitcoin into the prevailing financing.
Cantor Fitzgerd’s CryptoCurrency, including a 5 % stake in Tether of approximately $ 600 million, reflects its commitment to industry.
During his assertion session in January, Lutnick expressed his support for Stablecoin, with confirmation that the US dollar -backed Stablecooins should be supported by US Treasury bonds and undergoing regular audits to maintain transparency.
With Lutnick now in a major economic leadership role, Bitcoin’s advocates hope that the United States will adopt a more convenient attitude towards coded asset regulations and digital assets.
Howard Lootnick, post -Bitcoin preacher, as a Secretary of American Trading at first on Invezz
