The partnership between Tether and Cantor Fitzgerald could have changed Tether's reputation, silencing doubts that have persisted for years about USDT. By collaborating with other financial giants and launching "21 Capital", Tether seems to have quietly gained recognition from Wall Street.
The result? Tether has become closer to Wall Street than most traditional banks and more institutionalized than the loudest skeptics ever imagined. This analysis examines Tether's relationship with Cantor Fitzgerald, SoftBank, and how these alliances enhance Tether's credibility, minimize legal risks, and position the USDT issuer as a legitimate heavyweight.
Cantor Fitzgerald: Inside the Tether Cantor Fitzgerald Partnership
Cantor Fitzgerald, a major Wall Street brokerage firm, partnered with Tether in 2021 before Howard Lutnick joined the government. As the US Secretary of Commerce, Lutnick is responsible for promoting economic growth, job creation, and overseeing policies and programs related to trade, industry, innovation, and data collection.
This early partnership meant Cantor became the primary overseer of Tether's US Treasury reserves.
By the end of 2024, Cantor had held oversight of approximately 80% of the $132 billion in Tether's reserves. A few months later, that number increased to 99% of Tether's Treasury reserves. Those who were skeptical and insisted that Tether's reserves were not realistic now have to face the fact that a reputable brokerage firm is protecting nearly all of those assets.
(The translation continues in the same manner for the rest of the text, following the specified translation rules)21 Capital: The Peak of the Tether Cantor Fitzgerald Partnership
All these alliances converge at 21 Capital, a newly established investment company preparing to list on Nasdaq with the stock ticker "XXI." Famous Bitcoin entrepreneur Jack Mallers will lead as CEO.
This is a significant step for Tether's organizational ambitions. Being part of a public company means complying with SEC regulations, quarterly disclosures, and answering numerous questions from analysts. Tether's critics who have accused it of lacking transparency may need to find new material – part of Tether's operations will now be under the public market's spotlight.
However, Tether's stablecoin business is not entirely merged with the SPAC. But 21 Capital's large BTC reserve – 42,000 coins at launch – will provide a window into Tether's broader ecosystem. Investors can observe how these Tether-linked assets perform.
This is a level of transparency that Tether's old model did not have.
Control remains in Tether's hands, meaning Tether gains both benefits: credibility from the public market surrendering company control external shareholders. alsoening among major Bitcoin holders. Think of Strategy ($Mmstr) but with a more direct connection to a with a global stablecoin giant.
cantor Fitzgerald's presence as SPPAC sponsor and SoftBank as co-investor indicates corporate governance will not be taken lightly. If 21 Capital does something suspicious, Cantor's brand would be affected, and SoftBank's capital would be at risk.
This move also brings Tether into direct competition with other with listed entities holding significant Bitcoin. 21 Capital's asset reserve is large from the start, so it can operate as a prominent institutional buyer or holder. A strong performance in the public market could even reinforce Tether's stablecoin business.
The largest uncertain cloud of crypto has now become a ray of sunshine.
moves significantly reduce the legal and credibility risks that previously surrounded Tether. It becomes harder for critics to describe Tether as a "rebel" when it's closely aligned with established large corporations. The public listing requirement, Cantor's oversight, and SoftBank's validation all compel Tether to maintain higher standards."market needsworencies to value and allocallocate capital effectively," – Jacklers, mCEO's CEO
That doesn't mean Tether has escaped pressure. The stablecoin sector remains a regulators' top target, and Tether's leadership will be pressured to maintain transparency. Any midraw CantorBank into – something Tether and its want to>< p In2014 and introduced pegging to, could it would end up connecting with Street'siers highest layers and collaborating with a giant like SoftBank. But now,,'re witnessing Tether preparing for its nasdaq 21 Capital (date still.Maintain good relationships with regulators and oversight, it has traveled a long way.. Through the partnership between Tether and Cantor Fitzgerald, along with Lufamily connections and SoftBank's power, this stablecoin now clearly appears corporate.
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