Tether-Linked Cantor Fitzgerald Pays SEC $6.75M Fine Over SPAC Violations

Digital asset firm settles charges over unregistered offerings of crypto-backed securities

  • Cantor Fitzgerald pays $6.75 million SEC penalty for SPAC-related misconduct.
  • The firm made misleading statements about merger target discussions in IPO filings.
  • Two SPACs under Cantor Fitzgerald’s control raised $750 million before merging with View, Inc. and Satellogic Inc.
  • The settlement comes as Cantor Fitzgerald maintains significant ties to Tether, holding a $600 million stake.
  • CEO Howard Lutnick assumes leadership role in Donald Trump‘s Commerce Department.

Cantor Fitzgerald, a major Wall Street broker with substantial cryptocurrency ties through Tether, agreed to a $6.75 million settlement with the Securities and Exchange Commission over charges of misleading investors in special purpose acquisition company (SPAC) filings.

- Advertisement -

SPAC Disclosure Violations

The SEC’s investigation revealed that Cantor Fitzgerald made false statements in public filings for two SPACs – CF Finance Acquisition Corp. II and CF Acquisition Corp. V. According to SEC Acting Director Sanjay Wadhwa, the firm claimed no prior contact with potential merger targets while actively engaging in "substantive discussions with several private companies regarding a potential merger."

The SPACs, which are shell companies created specifically for merging with private entities, collectively raised $750 million before combining with:

  • View, Inc.
  • Satellogic Inc.

Tether Connection and Leadership Changes

The penalty comes amid Cantor Fitzgerald’s deepening involvement in the cryptocurrency sector. A Wall Street Journal investigation found the firm holds:

  • A 5% stake in Tether valued at approximately $600 million
  • Management responsibility for the majority of Tether’s $134 billion in assets

CEO Howard Lutnick, while maintaining his position at Cantor Fitzgerald, has taken on a new role as co-chair of Donald Trump’s Commerce Department transition team. A company spokesperson stated to CNBC that "no investor was ever harmed by the alleged issues described in the order."

The SEC settlement documents indicate Cantor Fitzgerald neither admitted nor denied the allegations while agreeing to pay the civil penalty.

✅ Follow BITNEWSBOT on Facebook, LinkedIn, X.com, and Google News for instant updates.

Previous Articles:

- Advertisement -

Latest

Uniswap (UNI) Rebounds Above $6 After Brief Uptrend Breakdown

Uniswap's UNI token dropped below its key uptrend line following a failed hold above the $6.00 support level.High trading volumes accompanied the decline, including...

Michael Saylor Invites Joe Rogan to Discuss Bitcoin on Podcast

Michael Saylor has shown interest in discussing Bitcoin on The Joe Rogan Experience podcast.The idea has generated excitement in the Bitcoin community, with some...

Congress Debates Stablecoin Bill Amid Rising Bank and Crypto Tensions

U.S. lawmakers are moving forward with the Senate Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, with debates set to resume after...

American Engineer Drugged, Robbed in Sophisticated London Crypto Heist

An American software engineer lost approximately $123,000 in cryptocurrency after being drugged and robbed in London.The victim was targeted by an impersonator posing as...

Max Keiser Doubts New Bitcoin Treasuries’ Discipline in Bear Market

Bitcoin-focused companies are increasingly copying the treasury strategy used by Michael Saylor's Strategy.Max Keiser raised doubts about whether these newer companies can maintain commitment...

Must Read

Ethereum Hosting: TOP 10 Companies to Buy Hosting With Ethereum

If you are looking for Ethereum Hosting, you've hit the jackpot. In this article, we will present the 10 Best companies to buy hosting...