Howard Lutnick: Cantor Has a Convertible Bond With Tether

The transcript discusses the necessity of audits for stable coins, emphasizing that U.S. dollar stable coins should be fully backed by U.S. Treasuries. It highlights the importance of a robust audit process to ensure compliance and transparency. The conversation then shifts to Tether, where the speaker clarifies that neither they nor Cantor Fitzgerald own Tether, except for a convertible bond. The discussion underscores the need for clear regulations and ownership transparency in the cryptocurrency market.

What is the importance of auditing stable coins according to the speaker?

How does the speaker suggest proving the backing of stable coins?

What does the speaker imply about changing the rules after someone has bought a stable coin?

Did the speaker or Cantor Fitzgerald ever own Tether, and what is the significance of this?

What type of financial instrument does Cantor Fitzgerald own in relation to Tether?