Howard Lutnick, the Chairman and CEO of American Financial Services firm, Cantor Fitzgerald has attested to the validity of Tether reserves.
Lending Legitimacy to Tether Reserve
Over the years, there has been a lot of controversy surrounding Tether’s reserve as critics claim the top stablecoin issuer does not have enough capital to back its USDT token on the 1:1 basis it claims. 
This time around, Howard Lutnick, speaking in an interview with Bloomberg Television at the ongoing World Economic Forum (WEF) Conference in Davos confirmed that Tether has the funds it said is backing its reserve.
“I manage many, many of their assets,” Lutnick said in the interview. “From what we’ve seen, and we did a lot of work, they have the money.” 
Tether has had issues with the office of the New York Attorney General (NYAG) in the past as the firm was indicted for not having the reserve it proclaimed from at least June 1, 2017, until September 15, 2017. In February 2021, the company settle

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