Cantor Fitzgerald CEO Howard Lutnick Is a Tether Fan
Howard Lutnick, the CEO of Cantor Fitzgerald, a prominent private financial services company on Wall Street, recently confirmed the business relationship between his firm and Tether, the issuer of the largest stablecoin in the cryptocurrency market. During an interview on CNBC's Money Movers, Lutnick expressed his admiration for Tether and revealed that Cantor Fitzgerald holds their treasuries.
A Strong Endorsement for Tether
Lutnick, speaking highly of Tether, shared his perspective on the value of various tokens in the crypto industry. He stated, "I'm a big fan of the stablecoin called Tether. I hold their treasuries, I keep their treasuries, and they have a lot of treasuries. They are over $90 billion now."
Lutnick also drew attention to Tether's unique characteristics compared to other cryptocurrencies. While praising bitcoin as an uncontrollable asset, he acknowledged that Tether operates differently. He explained, "If you have Tether, and someone calls Tether, they freeze it because there is someone to call. There's no one to call in Bitcoin."
Confirmation of Tether-Cantor Fitzgerald Partnership
Lutnick's statements officially confirm the reports of the connection between Tether and Cantor Fitzgerald, which were initially brought to light by the Wall Street Journal earlier this year, as per sources familiar with the matter. According to Tether's latest financial disclosure report, the company held more than $70 billion in U.S. Treasury bills in November, when its market cap reached $84.80 billion.
Adam Back's Praise for Tether
Adam Back, the CEO of Blockstream and a renowned cryptographic innovator, celebrated the affirmations made by Cantor Fitzgerald's CEO by acknowledging the alleged involvement of Tether's CEO, Paolo Ardoino, in the subject. Back expressed his approval by posting on social media, "Can't buy better media coverage than that, Paolo Ardoino… Suck that truthoors."
Opinions and Comments
What are your thoughts on the link between Cantor Fitzgerald and Tether? Please share your opinions and comments in the section below.
Frequently Asked Questions
Are You Ready to Invest in Gold?
This will depend on how much money and whether you were able to invest in gold at the time that you started saving. You can invest in both options if you aren't sure which option is best for you.
Not only is it a safe investment but gold can also provide potential returns. It's a great investment for retirees.
Gold is more volatile than most other investments. Because of this, gold's value can fluctuate over time.
This does not mean you shouldn’t invest in gold. It is important to consider the fluctuations when planning your portfolio.
Another benefit to gold is its tangible value. Gold is more convenient than bonds or stocks because it can be stored easily. It's also portable.
As long as you keep your gold in a secure location, you can always access it. You don't have to pay storage fees for physical gold.
Investing in gold can help protect against inflation. It's a great way to hedge against rising prices, as gold prices tend to increase along with other commodities.
Also, you'll reap the benefits of having some savings invested in something with a stable value. Gold rises in the face of a falling stock market.
Another benefit to investing in gold? You can always sell it. Just like stocks, you can liquidate your position whenever you need cash. You don't even need to wait for your retirement.
If you do decide to invest in gold, make sure to diversify your holdings. Do not put all your eggs in one basket.
You shouldn't buy too little at once. Start with just a few drops. Add more as you're able.
Keep in mind that the goal is not to quickly become wealthy. It's not to get rich quickly, but to accumulate enough wealth to no longer need Social Security benefits.
While gold may not be the best investment, it can be a great addition to any retirement plan.
How much are gold IRA fees?
$6 per month is the Individual Retirement Account Fee (IRA). This includes the account maintenance fees and any investment costs associated with your chosen investments.
To diversify your portfolio you might need to pay additional charges. These fees vary depending on what type of IRA you choose. Some companies offer checking accounts for free, while others charge monthly fees for IRA account.
A majority of providers also charge annual administration fees. These fees can range from 0% up to 1%. The average rate per year is.25%. These rates are usually waived if you use a broker such as TD Ameritrade.
Is it a good retirement strategy to buy gold?
Buying gold as an investment may not seem very appealing at first glance, but when you consider how much people spend on average on gold per year worldwide, it becomes worth considering.
Physical bullion bars are the most popular way to invest in gold. But there are many other options for investing in gold. The best thing to do is research all options thoroughly and then make an informed decision based on what you want from your investments.
If you're not looking to secure your wealth, it may be worth considering purchasing shares in mining equipment or companies that extract gold. If you need cash flow from an investment, purchasing gold stocks is a good choice.
You can also invest your money in exchange-traded fund (ETFs), which give you exposure to the gold price by holding securities related to gold. These ETFs usually include stocks of precious metals refiners or gold miners.
What are the pros and cons of a gold IRA?
An Individual Retirement account (IRA) is a better option than regular savings accounts in that interest earned is exempted from tax. This makes an IRA great for people who want to save money but don't want to pay tax on the interest they earn. However, there are also disadvantages to this type of investment.
If you withdraw too many funds from your IRA at once, you may lose all your accumulated assets. The IRS may prohibit you from withdrawing funds from your IRA before you are 59 1/2 years of age. A penalty fee will be charged if you decide to withdraw funds.
Another problem is the cost of managing your IRA. Many banks charge between 0.5%-2.0% per year. Other providers charge monthly management costs ranging from $10-50.
Insurance will be required if you would like to keep your cash out of banks. Insurance companies will usually require that you have at least $500,000. You may be required by some insurers to purchase insurance that covers losses as high as $500,000.
If you decide to open a gold IRA, it is important to know how much you can use. Some providers limit the number of ounces of gold that you can own. Others allow you to pick your weight.
You will also have to decide whether to purchase futures or physical gold. Physical gold is more costly than gold futures. Futures contracts provide flexibility for purchasing gold. They let you set up a contract that has a specific expiration.
You will also have to decide which type of insurance coverage is best for you. The standard policy does not include theft protection or loss caused by fire, flood, earthquake. However, it does cover damage caused by natural disasters. Additional coverage may be necessary if you reside in high-risk areas.
You should also consider the cost of storage for your gold. Storage costs will not be covered by insurance. For safekeeping, banks typically charge $25-40 per month.
To open a IRA in gold, you will need to first speak with a qualified custodian. A custodian maintains track of all your investments and ensures you are in compliance with federal regulations. Custodians can't sell assets. Instead, they must hold them as long as you request.
After you've determined which type of IRA is best for you, fill out the paperwork indicating your goals. You should also include information about your desired investments, such as stocks or bonds, mutual funds, real estate, and mutual funds. You should also specify how much you want to invest each month.
Once you have completed the forms, you will need to mail them to your provider with a check and a small deposit. The company will then review your application and mail you a letter of confirmation.
When opening a gold IRA, you should consider using a financial planner. A financial planner can help you decide the type of IRA that is right for your needs. They can also help reduce your costs by suggesting cheaper options for purchasing insurance.
Statistics
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
External Links
cftc.gov
forbes.com
- Gold IRA: Add Some Sparkle To Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear In 90 – WSJ
- Do you want to keep your IRA gold at home? It's Not Exactly Legal – WSJ
irs.gov
How To
How to Hold Physical Gold in an IRA
An easy way to invest gold is to buy shares from gold-producing companies. But this investment method has many risks as there is no guarantee of survival. There is always the chance of them losing their money due to fluctuations of the gold price.
An alternative option would be to buy physical gold itself. This means that you will need to open an account at a bank, bullion seller online, or purchase gold from a trusted seller. This option has many advantages, including the ease of access (you don’t have to deal with stock markets) and the ability of making purchases at low prices. It is easier to view how much gold has been stored. So you can see exactly what you have paid and if you missed any taxes, you will get a receipt. You're also less susceptible to theft than investing with stocks.
There are however some disadvantages. Bank interest rates and investment funds won't help you. You won't have the ability to diversify your holdings; you will be stuck with what you purchased. Finally, the taxman may ask you about where you have put your gold.
BullionVault.com is the best website to learn about gold purchases in an IRA.
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By: Sergio Goschenko
Title: Adam Back Lauds Cantor Fitzgerald CEO for Confirming Tether Relationship
Sourced From: news.bitcoin.com/adam-back-says-suck-that-truthoors-as-cantor-fitzgerald-ceo-reveals-company-holds-tethers-treasuries/
Published Date: Fri, 15 Dec 2023 09:00:54 +0000
