The potential appointment of Howard Lutnick, the chairman and CEO of Cantor Fitzgerald, as the chief of staff in a second term for US President Donald Trump could spell trouble for Tether's stablecoin rival Circle, according to reports. Lutnick is allegedly custodian to Tether's Treasury bill assets. Critics have said that Tether needs to submit to an independent audit for true transparency, but Circle's USDC has proved more successful in regulatory battles so far. Some have suggested that USDC-friendly legislation could come into play if Lutnick takes on the role of chief of staff.



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