The Securities Exchange Commission (SEC) announced that Cantor Fitzgerald, the main custodian of Tether's assets, has agreed to pay a $6.75 million fine for making misleading statements to investors in two SPAC projects. The two SPAC projects previously raised a total of $750 million. Sanjay Wadhwa, acting director of the SEC's enforcement division, pointed out that Cantor Fitzgerald has repeatedly denied contact with acquisition targets in public filings, but has actually engaged in substantive merger negotiations with several private companies.