Cantor Fitzgerald’s $25 Billion Windfall Hinges on Tether’s $500 Billion Valuation Ambition

Cantor Fitzgerald stands to reap a staggering $25 billion profit if Tether achieves its audacious $500 billion valuation target. The Wall Street firm acquired a $600 million convertible bond over a year ago, securing rights to 5% equity—contingent on final deal terms permitting conversion and sale. Such a valuation would catapult the stablecoin issuer into the ranks of OpenAI, among the world's most valuable private companies.

The high-stakes deal forms the centerpiece of Cantor's investor pitch, though executing a private round of this magnitude under intense regulatory scrutiny presents formidable challenges. A $25 billion gain WOULD mark one of Wall Street's most lucrative balance-sheet maneuvers, further intertwining the fates of CEO Howard Lutnick, Tether, and U.S. political corridors.

Leadership transitions at Cantor have accelerated the Tether alliance. With Howard Lutnick divesting shares to comply with federal ethics rules as Commerce Secretary, sons Brandon (27) and Kyle (29) now steer the firm. Their recent Singapore panel appearance signals aggressive pursuit of the crypto partnership—even as Washington watches.