Howard Lutnick, the U.S. Secretary of Commerce and former CEO of Cantor Fitzgerald, has been a vocal advocate for Bitcoin and the broader cryptocurrency sector. He has publicly expressed his support for Bitcoin, stating, “I am a fan of Bitcoin. Do I own Bitcoin? Of course I do.” 

Lutnick’s enthusiasm extends to integrating cryptocurrencies into national financial strategies. In a March 2025 interview, he revealed that President Trump planned to announce a Bitcoin strategic reserve, highlighting the administration’s commitment to digital assets. 

During his Senate confirmation hearing in January 2025, Lutnick supported mandatory audits for stablecoins, emphasizing the need for transparency and backing by U.S. Treasuries. He stated, “I believe U.S. dollar stablecoins should be audited, [and] should be completely backed by U.S. Treasuries, 100%.” 

Lutnick also believes that dollar-denominated stablecoins can extend American influence globally. He has expressed concern that regulations in Europe and elsewhere might limit the expansion of Tether and other dollar-based cryptocurrencies, questioning, “If a dollar-based stablecoin was backed by the euro, then they should go to hell. How does that help us?” 

In summary, Howard Lutnick views Bitcoin and other cryptocurrencies as pivotal components of the financial landscape, advocating for their integration into national economic strategies and emphasizing the importance of regulatory clarity and transparency.

Cantor Fitzgerald

Howard William Lutnick, born on July 14, 1961, in Jericho, New York, is an American businessman and political figure currently serving as the 41st United States Secretary of Commerce. He is renowned for his leadership of Cantor Fitzgerald, a prominent financial services firm, where he has been Chairman and CEO since 1991.

Early Life and Education

Lutnick was born into a Jewish family as the middle child among three siblings. His father, Solomon Lutnick, was a history professor at Queens College, and his mother, Jane Lutnick, was an artist. Tragically, he lost both parents during his teenage years—his mother to lymphoma in 1978 and his father to cancer in 1979. Despite these hardships, Lutnick pursued higher education at Haverford College in Pennsylvania, where he graduated with a degree in economics in 1983. 

Career at Cantor Fitzgerald

Immediately after college, Lutnick joined Cantor Fitzgerald, quickly ascending through the ranks. He was appointed President and CEO in 1991 and became Chairman in 1996. Under his leadership, the firm invested heavily in technology, notably developing the electronic trading platform eSpeed. The September 11, 2001 attacks had a devastating impact on Cantor Fitzgerald, resulting in the loss of 658 employees, including Lutnick’s brother, Gary. In response, Lutnick established the Cantor Fitzgerald Relief Fund to support the families of the victims. 

Political Involvement and Role as Secretary of Commerce

A longtime supporter of Donald Trump, Lutnick co-chaired Trump’s presidential transition team in 2024. He was nominated and confirmed as the United States Secretary of Commerce in early 2025. In this role, Lutnick has been a vocal advocate for implementing tariffs aimed at protecting American industries and has emphasized the integration of robotics and technology to revitalize U.S. manufacturing. 

Philanthropy

Beyond his corporate and political endeavors, Lutnick is recognized for his philanthropic contributions, particularly through the Cantor Fitzgerald Relief Fund, which has provided significant support to families affected by the 9/11 attacks and various natural disasters. He has also been a major benefactor to Haverford College, funding multiple facilities and programs. 

For a more detailed overview of Howard Lutnick’s background and career, you might find the following video informative: