Howard Lutnick’s role under Donald Trump’s administration is expected to extend beyond the transition team. According to Punchbowl News, Trump is anticipated to announce Lutnick as the next Secretary of Commerce. As the CEO of Cantor Fitzgerald and a supporter of Tether, Lutnick may bring his experience in both crypto and traditional finance to the Commerce Department.
Profile of Howard Lutnick
Positive reports from Punchbowl News and the Wall Street Journal have not yet been officially confirmed. However, Howard Lutnick fits the profile for the position. A long-time friend of Trump, Lutnick has hosted numerous fundraising events for the president.
Earlier reports suggested that Lutnick was a candidate for the U.S. Treasury Secretary. Despite the presence of strong names like Scott Bessent among Treasury candidates, Lutnick is believed to possess the necessary experience for the role.
BREAKING – TRUMP is expected to appoint HOWARD LUTNICK as Secretary of Commerce. — Jake Sherman
If speculations are confirmed, Lutnick’s role as Secretary of Commerce will involve representing American businesses in the president’s cabinet. Beyond this, he is poised to contribute significantly to supporting economic growth and development. Lutnick has expressed support for the Department of Government Efficiency (D.O.G.E) idea, which aims to enhance government efficiency and will be led by Elon Musk.
Benefits to the Crypto Ecosystem
Howard Lutnick has managed a business providing custodial services for Tether, known for its controversial adoption by regulators. This background makes the Cantor Fitzgerald CEO valuable to many crypto advocates. His open support for Bitcoin 
$92,632 aligns with Trump’s crypto promises, and during his appearance at the 2024 Bitcoin Conference, he envisioned a world where Bitcoin is widely transacted.
With Lutnick’s potential appointment, the industry is now focusing on who Trump will select for the SEC and Treasury Department. Lutnick’s appointment as Secretary of Commerce could merge his experiences in both traditional finance and the crypto sector.
