Stablecoins Are Beneficial to U.S. Economy, Tether's Custodian Says
Summary
Cantor Fitzgerald's CEO, Howard Lutnick, believes U.S. dollar stablecoins strengthen the dollar's global dominance and are beneficial to the U.S. economy. He supports properly backed stablecoins like Tether and Circle, emphasizing their role in driving demand for U.S. Treasury notes. Lutnick also expressed concerns about central bank digital currencies, particularly in relation to China's perception of a potential digital dollar. He envisions real-world assets like bonds being tokenized and traded on the blockchain in the next decade. Despite concerns about stablecoin reserves, Tether has maintained investor confidence and passed stress tests.
