New details show a Lutnick family trust’s October 2024 borrowing from Tether was backed by trust assets, while Cantor Fitzgerald’s Tether investment included rights to 5% equity via a $600 million convertible bond.
New reporting adds that a Lutnick family trust took an undisclosed loan from Tether in October 2024 after Howard Lutnick sold Cantor Fitzgerald stakes to trusts benefiting his four children. The loan was secured by the trust’s assets. The update also states that Cantor Fitzgerald’s 2024 investment in Tether included rights to 5% equity through a $600 million convertible bond, expanding the known financial links relevant to questions about the divestiture structure.