Lutnick’s Cantor Fitzgerald Has Been A Major Ally Of Right-Wing Streaming Site Rumble, Which “Thrives On Misinformation And Hate.”

• Cantor Fitzgerald reported a stake of over $42 million in right-wing video site Rumble in its most recent quarterly holdings report. Rumble, which “thrives on misinformation and hate,” was taken public by a Cantor Fitzgerald blank check company in 2022 and managed ad sales for Trump’s right-wing Truth Social platform, which Trump founded after he was banned from Twitter.

• As recently as December 2024, Cantor Fitzgerald served as “placement agent and dealer manager” for a $775 million strategic investment from major cryptocurrency company Tether, which is also a “key ally” of Cantor.

Howard Lutnick, A “China Hawk” With Chinese Business Interests

• Howard Lutnick, who has cultivated an image as a “China hawk” and will be in charge of Commerce Department functions that will be “the tip of the spear in the U.S.-China trade war,” has various business interests in China. Lutnick’s firm Cantor Fitzgerald has “helped take Chinese firms public,” and one of his financial services firms has a joint venture with a Chinese government-owned entity.

Lutnick’s Business Empire Is Highly Invested In Major Chipmaker Nvidia, Which Is Opposed To New Biden Administration Trade Protections Against China:

• Lutnick’s Cantor Fitzgerald’s second-biggest investment was in major chipmaker Nvidia, as reported in Cantor’s most recent quarterly report.

• The Commerce Dept. plays a major role in enforcing trade protection policies. In January 2025, Nvidia loudly criticized new Biden Commerce Dept. export rules to prevent China from accessing advanced artificial intelligence technology, with an executive calling them “‘extreme.’”

Lutnick’s Business Empire Is Highly Involved In Cryptocurrency, Which The Commerce Dept. Plays A Role In Overseeing:

• Lutnick is a vocal “cryptocurrency enthusiast,” and his firm Cantor Fitzgerald is a "key ally" of Tether, which is “the world's most transacted cryptocurrency" and “one of the world's wealthiest financial institutions.” In November 2024, Cantor and Tether developed a joint project valued at $2 billion. 

• Meanwhile, the Commerce Dept. has played a central role in developing cryptocurrency policymaking. In 2022, President Biden instructed the Secretary of Commerce to develop a framework for “enhancing United States competitiveness” in digital asset technologies. The Commerce Dept. later issued a report on "Responsible Advancement of U.S. Competitiveness in Digital Assets," with Secretary Gina Raimondo calling for "'effective regulatory approaches’” in digital assets. President Biden also issued a comprehensive framework on digital asset innovation, giving the Commerce Dept. responsibility to establish a "standing forum" on related federal rulemaking. President Trump has since replaced President Biden’s 2022 executive order with a new one directing relevant departments to recommend digital asset policies that should be “rescinded or modified.”  

Lutnick’s Business Empire Is Highly Involved In The Commercial Space Industry, Which Falls Under Commerce Dept. Oversight:

• Lutnick’s Cantor Fitzgerald sponsored the $1.1. billion public launch of commercial space company Satellogic, with Cantor reporting continued stakes in the company in a November 2024 report to the Securities and Exchange Commission.

• The Commerce Department has oversight over the commercial space industry through its Office of Space Commerce (OSC) and through other Commerce Dept. functions that affect satellite companies.

• Lutnick is “close” to key Trump advisor Elon Musk, who owns commercial space companies SpaceX and Starlink. SpaceX has given policymaking input to multiple Commerce Dept. offices.