2024

Bitcoin

Cantor Fitzgerald CEO Howard Lutnick appeared on Fox Business on Sept. 27 and urged regulators to classify Bitcoin as a commodity, similar to gold and oil.
In the Mornings with Maria interview, Lutnick stated that the status of Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) as a commodity is well-established and called for clearer regulation of the cryptocurrency space:
<blockquote>
 “Bitcoin is a commodity. It should be treated like gold and like oil. It’s just a commodity.”
</blockquote>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/cantor-fitzgerald-trump-transition-team-tether" rel="null" target="null" text="null" title="null">Cantor Fitzgerald CEO to co-lead Trump transition team</a>
<h2 id="bitcoin-as-a-commodity">Bitcoin as a commodity</h2>
Maria asked Lutnick whether he believed “commodities and other things that are traded on” Cantor Fitzgerald’s exchange would experience similar regulations to those in equities.
Lutnick said he believes commodities and equities will merge over a long period of time, “over maybe 20 years.”
The CEO emphasized his concern over regulators’ inability to grasp the importance of BTC and the broader digital asset industry:
<blockquote>
 “Let’s face it: they don’t even know how to do crypto and digital at all, and they have no idea; they still don’t understand how important it is to get it right.”&nbsp;
</blockquote>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/cantor-fitzgerald-announces-2b-bitcoin-financing-business" rel="null" target="null" text="null" title="null">Cantor Fitzgerald announces $2B Bitcoin financing business</a>
<h2 id="cantor-fitzgerald-s-2-billion-btc-lending-program">Cantor Fitzgerald’s $2 billion BTC lending program</h2>
On July 27, at the Bitcoin 2024 conference in Nashville, Tennessee, Lutnick <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/cantor-fitzgerald-announces-2b-bitcoin-financing-business" rel="null" target="null" text="null" title="null">announced the launch of a BTC lending program</a>, offering “leverage to those who own Bitcoin.”
The financial services firm’s CEO said it would launch “with $2 billion of lending” through its “Bitcoin financing business.”
In his closing statement at the conference, Lutnick said the firm would welcome “Bitcoin into the financing family of the global financial market.”
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-miner-major-profitability-cantor-fitzgerald-research" rel="null" target="null" text="null" title="null">11 Bitcoin miners may not mine profitably post halving — Cantor Fitzgerald</a>
<h2 id="lutnick-to-co-lead-trump-transition-team">Lutnick to co-lead Trump transition team</h2>
In an Aug. 16 statement, former United States President Donald Trump’s campaign team said that Lutnick would <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/cantor-fitzgerald-trump-transition-team-tether" rel="null" target="null" text="null" title="null">co-lead the Republic nominee’s transition team</a> if he wins the presidential election in November.
Alongside World Wrestling Entertainment co-founder Linda McMahon, Lutnick will oversee the organization of policies and staff management within the transition team.
Alex Grieve, Paradigm’s government affairs lead, stated in an Aug. 16 X <a data-ct-non-breakable="null" href="https://x.com/AlexanderGrieve/status/1824435126119567731" rel="null" target="null" text="null" title="null">post</a> that Lutnick’s inclusion in the team is “huge for crypto” because the Cantor Fitzgerald CEO is “a big crypto bull.”
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/worldcoin-fined-dmm-bitcoin-system-face-ban-asia-express/" rel="null" target="null" text="null" title="null">Worldcoin fined again! Crypto store clerk runs off with $500K cash: Asia Express</a>

Bitcoin should be treated as a commodity, like gold — Cantor Fitzgerald CEO

Table of Contents

Cointelegraph

Other articles published on Sep 28, 2024

Bitcoin Correlation with Stocks in the U.S. Hits 2-Year High

What Is Donald Trump’s New Crypto Project, World Liberty Financial?

Coinpedia Fintech News

Bitget Becomes LaLiga’s Official Cryptocurrency Partner in $10M+ Deal

Security Meets Autonomy: Gain Complete Control of Your Crypto Assets with Qubetics’ Secure Non-Cu...

Coinpedia Fintech News

Join our free newsletter for daily crypto updates!