Cantor Fitzgerald, a financial services firm primarily owned by billionaire Trump loyalist Howard Lutnick, has been revealed to hold a nearly 5% stake in the world's largest stablecoin issuer, Tether, according to a Wall Street Journal report.

Cantor Fitzgerald has agreed to a 5% ownership stake in Tether valued at approximately $600 million, according to the Wall Street Journal.

Financial services giant Cantor Fitzgerald reportedly owns a 5% stake in stablecoin issuer Tether, a position potentially worth $600 million