Financial services firm Cantor Fitzgerald has agreed to acquire a 5% stake in stablecoin issuer Tether in 2023, and WSJ reported on Nov. 24, citing business partners familiar with the matter, that the stake was worth $600 million at the time of the agreement. This could mean Tether will gain more political support as Howard Lutnick, the CEO of Cantor Fitzgerald, was named commerce secretary to US President-elect Donald Trump on November 19.