Cantor Fitzgerald, the monetary agency managed by the household of Commerce Secretary Howard Lutnick, is deepening its investments in belongings tied to Trump administration insurance policies. Within the second quarter of this 12 months, the agency purchased hefty quantities of shares in a Bitcoin fund and inventory in corporations Robinhood, Alibaba, Tesla, chipmaker AMD, Apple, and Trump Media, in accordance with its newest Securities and Trade Fee filing. Lutnick has been a prime cheerleader in the media of the Trump administration’s tariff insurance policies, which may shake the inventory costs of corporations, and has aided the administration’s plans for a Strategic Bitcoin Reserve.
Lutnick, who had run Cantor Fitzgerald since 1991 as CEO and president, handed management of the agency to his sons Brandon, now CEO, and Kyle, vice chairman, upon his Senate affirmation in February. In Could, Lutnick divested his possession curiosity in the agency underneath his ethics agreement. Lutnick has been deeply entwined with President Trump’s frenetic tariff plans, as detailed a current New Yorker profile, and the Division of Commerce is liable for implementing and implementing tariffs as set by the president, the U.S. Commerce Consultant, and different companies.
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