At Bitcoin 2024 in Nashville, Cantor Fitzgerald, Tether’s custodian for United States treasuries, introduced a brand new lending enterprise which is able to permit folks to get leverage on their bitcoin.
Cantor Fitzgerald chief exec Howard Lutnick reportedly said that it’s “going to launch with $2 billion in lending.”
The announcement famous that Cantor Fitzgerald “associate with choose bitcoin custodians” to launch this new enterprise line.
Lutnick additionally famous that the agency owns a “shitload” of bitcoin.
Protos has reached out to Cantor Fitzgerald to find out who it has partnered with for this new enterprise line, however at press, it has not responded.
Tether’s loans
In December 2022, Tether introduced its intention to “cut back secured loans in Tether’s reserves to zero.”
Regardless of this, Tether nonetheless has secured loans, but it surely now considers them ‘extra reserves’ and states they “received’t have any affect on the token reserves.”
Curiously, Tether’s most up-to-date attestation exhibits that its secured lending enterprise has grown to a worth of $6.57 billion, a rise of practically $1.9 billion for the reason that final attestation.
Learn extra: Tether says it makes cash however can’t ditch loans
Protos has reached out to Tether to find out if it has taken on new shoppers to this enterprise in current months, however at press, it has not responded.
It’s not presently clear precisely why Cantor Fitzgerald and Tether’s lending companies have grown by practically the identical quantity in current months.