Howard Lutnick, the CEO of Cantor Fitzgerald and known for his ties to crypto and Wall Street, has been confirmed as the US Commerce Secretary. His new role includes overseeing the $42.5 billion Broadband Equity, Access, and Deployment program and regulatory power over tech infrastructure. Senator Elizabeth Warren has criticized Lutnick's involvement with Tether and demanded details about Cantor Fitzgerald's investment in the stablecoin and its compliance with regulations. Lutnick has promised to divest from Cantor, but critics are skeptical. Senator Ted Cruz supports Lutnick's confirmation and expects him to shake up the broadband program. Lutnick is also pushing for mandatory audits of stablecoins like Tether. The SEC's Crypto Task Force will work closely with Lutnick to develop regulatory frameworks for the industry.



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