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@ -60,35 +60,35 @@ relations:
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with: "[[AdFin Solutions]]"
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role: "through CVAFH I LLC: 800,000 shares of Series A preferred stock for $350,000 (July 23, 2013) and a $2,000,000 convertible note (December 26, 2013)"
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start: 2013-07-23
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fn: 17
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fn: 18
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- type: partner_of
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with: "[[Tether]]"
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role: "described by Tether's chief executive Paolo Ardoino as a Tether custodian since late 2021; sponsor, through an affiliate, of Cantor Equity Partners, which completed its business combination with Twenty One Capital, majority-owned by Tether and Bitfinex, on December 8, 2025"
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start: 2021
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fn: 30
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fn: 31
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- type: founded
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with: "[[CF Acquisition Corp. VI]]"
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role: "sponsor of the special purpose acquisition company (incorporated April 17, 2020) that merged with Rumble on September 16, 2022"
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start: 2020-04-17
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end: 2022-09-16
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fn: 33
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fn: 34
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- type: subject_of
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with: "[[Securities and Exchange Commission]]"
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role: "order of December 12, 2024: $6.75 million civil penalty over statements by CF Finance Acquisition Corp. II and CF Acquisition Corp. V"
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start: 2024-12-12
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fn: 36
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fn: 37
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- type: subject_of
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with: "[[Securities and Exchange Commission]]"
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role: "order of April 6, 2020: $3.2 million penalty and censure of Cantor Fitzgerald & Co. over deficient blue sheet trading data"
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start: 2020-04-06
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fn: 37
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fn: 38
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- type: subject_of
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with: "[[BBC]]"
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start: 2026-07-14
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role: "BBC report that one of Lutnick's firms made plans in 2013 to go into business with the then Prince Andrew; Cantor Fitzgerald did not deny the talks and said it did not go into business with the former prince"
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fn: 28
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fn: 29
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created: 2026-10-04
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updated: 2026-10-04
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updated: 2026-10-15
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---
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Cantor Fitzgerald, L.P. is a [[New York City|New York]] [[Securities Brokerage|brokerage]] and investment bank whose operating subsidiaries include Cantor Fitzgerald & Co., a broker-dealer on the [[Federal Reserve Bank of New York]]'s list of primary dealers, and whose affiliates include the interdealer broker [[BGC Group]], the real estate services company [[Newmark Group]], and a series of special purpose acquisition companies. The firm lost 658 employees at [[One World Trade Center]] on [[September 11 attacks|September 11, 2001]]. Since February 18, 2025 it has been led by [[Brandon Lutnick]], the son of [[Howard Lutnick]], who was confirmed that day by the [[United States Senate]] as [[United States Department of Commerce|Secretary of Commerce]].[^1][^2][^3]
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@ -111,61 +111,61 @@ eSpeed's report states that the loss of Cantor's brokers and assets had adversel
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In April 2008, BGC Partners' businesses and certain other Cantor assets were merged with and into eSpeed, and the combined company began operating as BGC Partners, Inc. In June 2013 the company sold assets of its U.S. Treasury benchmark business, and the name "eSpeed," to [[Nasdaq]]. On July 1, 2023 BGC Partners became a wholly owned subsidiary of the new public parent BGC Group, Inc. Cantor and [[CF Group Management]] (CFGM), the general partner of Cantor, held 105.3 million shares of BGC Class B common stock, 96.2 percent of that class, at December 31, 2025. The history of the public company and its enforcement record are set out at BGC Group.[^2][^11]
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Newmark, the commercial real estate business that BGC transferred to Newmark Group on December 13, 2017, was listed in December 2017 and distributed to BGC's stockholders on November 30, 2018. Related-party dealings between BGC and Cantor have drawn litigation: on October 5, 2018 the [[Roofers Local 149 Pension Fund]] filed a derivative complaint in the [[Delaware Court of Chancery]] against BGC's board, Lutnick, CFGM and Cantor over BGC's $875 million purchase of [[Berkeley Point]] from [[Cantor Commercial Real Estate]], and on September 30, 2019 the court denied the defendants' motions to dismiss on demand grounds without making findings on the merits.[^12]
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Newmark, the commercial real estate business that BGC transferred to Newmark Group on December 13, 2017, was listed in December 2017 and distributed to BGC's stockholders on November 30, 2018. Related-party dealings between BGC and Cantor have drawn litigation: on October 5, 2018 the [[Roofers Local 149 Pension Fund]] filed a derivative complaint in the [[Delaware Court of Chancery]] against BGC's board, Lutnick, CFGM and Cantor over BGC's $875 million purchase of [[Berkeley Point]] from [[Cantor Commercial Real Estate]], and on September 30, 2019 the court denied the defendants' motions to dismiss on demand grounds without making findings on the merits, in an opinion by Chancellor [[Andre G. Bouchard]] in an action brought by the Roofers fund and the Northern California Pipe Trades Trust Funds.[^12] The [[Delaware Supreme Court]] affirmed the Court of Chancery's final judgment of September 27, 2022 by order of August 10, 2023.[^13]
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### Primary Dealer and Treasury Markets
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The [[Federal Reserve Board|Federal Reserve]] Bank of New York's published list of primary dealers includes Cantor Fitzgerald & Co., recorded as added to the list effective August 1, 2006.[^13] Cantor's prospectus for its [[Cayman Islands]] SPAC [[Cantor Equity Partners]] describes the firm's broker-dealer as "a leading independent middle market investment bank and primary dealer," and Cantor as having "a controlling interest in BGC Group."[^14] The Times in 1996 had already placed the firm among the largest institutional brokers of Government securities in the United States.[^1]
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The [[Federal Reserve Board|Federal Reserve]] Bank of New York's published list of primary dealers includes Cantor Fitzgerald & Co., recorded as added to the list effective August 1, 2006.[^14] Cantor's prospectus for its [[Cayman Islands]] SPAC [[Cantor Equity Partners]] describes the firm's broker-dealer as "a leading independent middle market investment bank and primary dealer," and Cantor as having "a controlling interest in BGC Group."[^15] The Times in 1996 had already placed the firm among the largest institutional brokers of Government securities in the United States.[^1]
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### Cantor Ventures and CVAFH I LLC
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Cantor Ventures, L.P. appears in AdFin documents with a letterhead address of 110 East 59th Street. Lutnick told the [[House Committee on Oversight and Government Reform]] on May 6, 2026 that "Cantor Fitzgerald had a subsidiary that did venture capital investing with small investments in many companies in sort of high-risk investments," called Cantor Ventures, "a venture capital arm of Cantor Fitzgerald, so sort of multiple layers down the subsidiary chain."[^15] [[Henrique de Castro]] has been described in a [[Target Corporation]] proxy statement as an advisor at Cantor Fitzgerald since January 2017, "where he leads the corporate venture capital arm of the firm, Cantor Ventures."[^16]
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Cantor Ventures, L.P. appears in AdFin documents with a letterhead address of 110 East 59th Street. Lutnick told the [[House Committee on Oversight and Government Reform]] on May 6, 2026 that "Cantor Fitzgerald had a subsidiary that did venture capital investing with small investments in many companies in sort of high-risk investments," called Cantor Ventures, "a venture capital arm of Cantor Fitzgerald, so sort of multiple layers down the subsidiary chain."[^16] [[Henrique de Castro]] has been described in a [[Target Corporation]] proxy statement as an advisor at Cantor Fitzgerald since January 2017, "where he leads the corporate venture capital arm of the firm, Cantor Ventures."[^17]
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[[CVAFH I LLC]] invested in [[AdFin Solutions]], Inc., a [[Delaware]] advertising-analytics company incorporated on April 25, 2011, in which [[Jeffrey Epstein]]'s [[Southern Trust Company]] also held Series A preferred stock. The [[United States Department of Justice|Justice Department]]'s Epstein library contains the following documents.
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The Series A Preferred Stock Purchase Agreement (EFTA00289560 in DataSet 9) is dated December 28, 2012, and its Exhibit A schedules an initial closing that day and subsequent closings on April 10 and July 23, 2013. It carries a counterpart signature page for CVAFH I LLC with the printed name "Howard W. Lutnick" and title "President." The same name and title appear on the counterpart pages of the investors' rights, right of first refusal and co-sale, and voting agreements, and on a letter agreement dated in July 2013. The letter agreement, on the letterhead of Cantor Ventures, L.P., states: "CVAFH I LLC ('Cantor')... Cantor has been formed for the specific purpose of acquiring the Shares and the ultimate holding company of Cantor is Cantor Fitzgerald, L.P., a Delaware limited partnership." Exhibit A to the purchase agreement lists "CVAFH I LLC" with 800,000 shares and a purchase price of $350,000 at a "Subsequent Closing" of July 23, 2013, and a stock certificate numbered PA-7, dated as of July 23, 2013, certifies that CVAFH I LLC is the record holder of "Eight Hundred Thousand shares of Series A Preferred Stock." Epstein's Southern Trust bought 1,142,857 Series A shares at an April 10, 2013 closing and 285,714 more on July 23, 2013.[^17][^18]
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The Series A Preferred Stock Purchase Agreement (EFTA00289560 in DataSet 9) is dated December 28, 2012, and its Exhibit A schedules an initial closing that day and subsequent closings on April 10 and July 23, 2013. It carries a counterpart signature page for CVAFH I LLC with the printed name "Howard W. Lutnick" and title "President." The same name and title appear on the counterpart pages of the investors' rights, right of first refusal and co-sale, and voting agreements, and on a letter agreement dated in July 2013. The letter agreement, on the letterhead of Cantor Ventures, L.P., states: "CVAFH I LLC ('Cantor')... Cantor has been formed for the specific purpose of acquiring the Shares and the ultimate holding company of Cantor is Cantor Fitzgerald, L.P., a Delaware limited partnership." Exhibit A to the purchase agreement lists "CVAFH I LLC" with 800,000 shares and a purchase price of $350,000 at a "Subsequent Closing" of July 23, 2013, and a stock certificate numbered PA-7, dated as of July 23, 2013, certifies that CVAFH I LLC is the record holder of "Eight Hundred Thousand shares of Series A Preferred Stock." Epstein's Southern Trust bought 1,142,857 Series A shares at an April 10, 2013 closing and 285,714 more on July 23, 2013.[^18][^19]
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On December 26, 2013, AdFin issued a $2,000,000 unsecured convertible note under a Note Purchase Agreement (EFTA00289541) whose investor was "CVAFH I, LLC," on Schedule I at 499 Park Avenue. The investor signature page (EFTA00289550) bears a handwritten signature with the handwritten name "[[Douglas Barnard]]" and the title "Chief Financial Officer." A stockholder consent (EFTA00289527) has signature pages for Southern Trust Company, Inc. and CVAFH I, LLC, each dated December 26, 2013.[^19] On January 7, 2014 AdFin shareholder [[David J. Mitchell]] wrote to Epstein: "We completed a $2 million convertible placement with Cantor Ventures at the end of the year... If and when they convert they get a board seat (we will have to increase board to 7 people as we have 5 now)," and said that "either two of the three of us (JEE, JL or DJM) could block certain actions of the Company."[^20]
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On December 26, 2013, AdFin issued a $2,000,000 unsecured convertible note under a Note Purchase Agreement (EFTA00289541) whose investor was "CVAFH I, LLC," on Schedule I at 499 Park Avenue. The investor signature page (EFTA00289550) bears a handwritten signature with the handwritten name "[[Douglas Barnard]]" and the title "Chief Financial Officer." A stockholder consent (EFTA00289527) has signature pages for Southern Trust Company, Inc. and CVAFH I, LLC, each dated December 26, 2013.[^20] On January 7, 2014 AdFin shareholder [[David J. Mitchell]] wrote to Epstein: "We completed a $2 million convertible placement with Cantor Ventures at the end of the year... If and when they convert they get a board seat (we will have to increase board to 7 people as we have 5 now)," and said that "either two of the three of us (JEE, JL or DJM) could block certain actions of the Company."[^21]
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A February 16, 2016 letter from Mitchell (EFTA01084694) attached a term sheet stating that "the Board of Adfin voted to accept an offer from its largest shareholder, Cantor Venture, to fund $1,750,000," and that the "Board increased to 7 directors. All chosen by Cantor," with "Howard Lutnick, [[Jed Kleckner]] and Henrique de Castro" to join the board, "Cantor will effectively control decision-making power at the Board and stockholder level" and "AdFin will be majority owned by Cantor." A cap table as of January 4, 2018 (EFTA00796718) lists Cantor at 85,959,207 shares, 60.32 percent.[^21]
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A February 16, 2016 letter from Mitchell (EFTA01084694) attached a term sheet stating that "the Board of Adfin voted to accept an offer from its largest shareholder, Cantor Venture, to fund $1,750,000," and that the "Board increased to 7 directors. All chosen by Cantor," with "Howard Lutnick, [[Jed Kleckner]] and Henrique de Castro" to join the board, "Cantor will effectively control decision-making power at the Board and stockholder level" and "AdFin will be majority owned by Cantor." A cap table as of January 4, 2018 (EFTA00796718) lists Cantor at 85,959,207 shares, 60.32 percent.[^22]
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On May 28, 2018 an account labeled "HWL," with a Cantor Fitzgerald LP disclaimer, exchanged emails with Epstein's account. Epstein wrote at 1:12 p.m.: "on another note what do you think the prospects for adfin are?" At 1:19 p.m. the reply read: "Producing revenue finally. This is their year. Next 12 months they need to become economically self sufficient."[^22] AdFin ceased business operations in October 2019.[^23]
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On May 28, 2018 an account labeled "HWL," with a Cantor Fitzgerald LP disclaimer, exchanged emails with Epstein's account. Epstein wrote at 1:12 p.m.: "on another note what do you think the prospects for adfin are?" At 1:19 p.m. the reply read: "Producing revenue finally. This is their year. Next 12 months they need to become economically self sufficient."[^23] AdFin ceased business operations in October 2019.[^24]
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Lutnick's statements on the record sit beside these documents. At the May 6, 2026 House Oversight interview he was asked "Were you personally an investor in AdFin Solutions?" and answered "No"; asked "Was Cantor Fitzgerald an investor in AdFin Solutions?" he answered "Yes." Asked whether he knew that Epstein was an investor, he answered "No," and that he learned of it "To the best of my knowledge, when these documents were released." Of the stock purchase agreement he said, "I don't think I heard about this investment till 2013, May. I think the pitch was made to me in May of 2013, from the document." He described it as "inexplicable and unsettling that he had ... that it was released, that my company's signature page would be in someone else's files," and said of the May 28, 2018 email, "This was ... this was me, because it says 'HWL.'"[^15] A source close to Lutnick told CBS News, in a report updated February 7, 2026, that "Cantor [Fitzgerald] was a small minority investor in Adfin" and that "[a]t the time of doing the deal, as a minority investor, Mr. Lutnick would not have any knowledge of who the other investors were."[^5] The [[BBC]] reported on July 14, 2026 that the Commerce Department had called the allegations "a desperate partisan distraction from the historic work of this Administration" and said there was "no evidence of wrongdoing or legitimate cause for concern."[^24]
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Lutnick's statements on the record sit beside these documents. At the May 6, 2026 House Oversight interview he was asked "Were you personally an investor in AdFin Solutions?" and answered "No"; asked "Was Cantor Fitzgerald an investor in AdFin Solutions?" he answered "Yes." Asked whether he knew that Epstein was an investor, he answered "No," and that he learned of it "To the best of my knowledge, when these documents were released." Of the stock purchase agreement he said, "I don't think I heard about this investment till 2013, May. I think the pitch was made to me in May of 2013, from the document." He described it as "inexplicable and unsettling that he had ... that it was released, that my company's signature page would be in someone else's files," and said of the May 28, 2018 email, "This was ... this was me, because it says 'HWL.'"[^16] A source close to Lutnick told CBS News, in a report updated February 7, 2026, that "Cantor [Fitzgerald] was a small minority investor in Adfin" and that "[a]t the time of doing the deal, as a minority investor, Mr. Lutnick would not have any knowledge of who the other investors were."[^5] The [[BBC]] reported on July 14, 2026 that the Commerce Department had called the allegations "a desperate partisan distraction from the historic work of this Administration" and said there was "no evidence of wrongdoing or legitimate cause for concern."[^25]
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### The 2013 Proposals Involving the Duke of York
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A term sheet headed "Term Sheet (8/29/13 Preliminary Draft for Discussion Purposes Only)" and marked "CONFIDENTIAL" summarizes "a joint venture to create an asset management business to be known as Cantor Urramoor Asset Management." Its partners are "[[Cantor Urramoor Asset Management Holdings]], LLC ('Cantor Holdings'), a wholly owned subsidiary of Cantor Fitzgerald," and "[Urramoor], an entity owned by a trust created by Mr. T." "Cantor Holdings would be the manager of the Company," which "would be permitted to engage affiliates of Cantor as subcontractor to perform certain services such as brokerage, investment banking, subadvisory and asset management services" and could engage Cantor for support services "at 110% of fully allocated cost." The loan term reads: "the Company would advance the sum of £1,000,000 to Urramoor which would accrue interest at an annual rate of 3.5%, compounded annually," with the capital term "Cantor would make a capital contribution to the Company in an amount necessary to fund the Loan." The sheet states: "It is not a commitment to form the Company, either express or implied."[^25]
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A term sheet headed "Term Sheet (8/29/13 Preliminary Draft for Discussion Purposes Only)" and marked "CONFIDENTIAL" summarizes "a joint venture to create an asset management business to be known as Cantor Urramoor Asset Management." Its partners are "[[Cantor Urramoor Asset Management Holdings]], LLC ('Cantor Holdings'), a wholly owned subsidiary of Cantor Fitzgerald," and "[Urramoor], an entity owned by a trust created by Mr. T." "Cantor Holdings would be the manager of the Company," which "would be permitted to engage affiliates of Cantor as subcontractor to perform certain services such as brokerage, investment banking, subadvisory and asset management services" and could engage Cantor for support services "at 110% of fully allocated cost." The loan term reads: "the Company would advance the sum of £1,000,000 to Urramoor which would accrue interest at an annual rate of 3.5%, compounded annually," with the capital term "Cantor would make a capital contribution to the Company in an amount necessary to fund the Loan." The sheet states: "It is not a commitment to form the Company, either express or implied."[^26]
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The sheet reached Jeffrey Epstein's email account through a message of August 30, 2013, subject "Term Sheet from Cantor Fitzgerald to Mr. T," from a Cantor sender to two solicitors: "Attached please find the draft term sheet. Please let me know when you would like to discuss it." On September 2, 2013 [[David Stern (business adviser)|David Stern]], whom the BBC describes as "the prince's business aide," forwarded it to Epstein: "See attached term sheet from Howard to PA. I think madness. They are still at it. We kill it ?" Epstein proposed a counter ("fifty fifty split, first 1 millino to offset loan, no subs acting without written agreement as to fee and profits . no exclusivity,") and wrote of its terms: "no predetermined split, and even then payments made only if they choose to? its crazy."[^26]
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The sheet reached Jeffrey Epstein's email account through a message of August 30, 2013, subject "Term Sheet from Cantor Fitzgerald to Mr. T," from a Cantor sender to two solicitors: "Attached please find the draft term sheet. Please let me know when you would like to discuss it." On September 2, 2013 [[David Stern (business adviser)|David Stern]], whom the BBC describes as "the prince's business aide," forwarded it to Epstein: "See attached term sheet from Howard to PA. I think madness. They are still at it. We kill it ?" Epstein proposed a counter ("fifty fifty split, first 1 millino to offset loan, no subs acting without written agreement as to fee and profits . no exclusivity,") and wrote of its terms: "no predetermined split, and even then payments made only if they choose to? its crazy."[^27]
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A draft "Agreement for Referrals" of November 2013 names "[[Cantor Opportunities]], LLC," "a subsidiary of Cantor Fitzgerald, L.P. which is the holding company for a diverse organization that includes subsidiaries and affiliates that are involved in various financial services and real estate activities," and "[[Urramoor Limited]]." Its signature blocks and date are blank. It provides that "Nothing in this agreement shall be construed or interpreted to create a partnership or joint venture," that Urramoor's "only services shall be to provide Cantor and any applicable CF Company with introductions to non-US persons, individuals, or entities," and that "a typical referral fee to Cantor would be 25% of the lender's fee ... Such referral fee to Cantor would be split 50/50 with UML." Exhibit A lists, among the "Asset Management Opportunities," "Investment in funds or separate account managed by a registered investment advisor such as Cantor Comparative Advantage, L.P."[^27]
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A draft "Agreement for Referrals" of November 2013 names "[[Cantor Opportunities]], LLC," "a subsidiary of Cantor Fitzgerald, L.P. which is the holding company for a diverse organization that includes subsidiaries and affiliates that are involved in various financial services and real estate activities," and "[[Urramoor Limited]]." Its signature blocks and date are blank. It provides that "Nothing in this agreement shall be construed or interpreted to create a partnership or joint venture," that Urramoor's "only services shall be to provide Cantor and any applicable CF Company with introductions to non-US persons, individuals, or entities," and that "a typical referral fee to Cantor would be 25% of the lender's fee ... Such referral fee to Cantor would be split 50/50 with UML." Exhibit A lists, among the "Asset Management Opportunities," "Investment in funds or separate account managed by a registered investment advisor such as Cantor Comparative Advantage, L.P."[^28]
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On August 9, 2013, in a thread headed "HL Loan," Epstein wrote to Stern: "no no no no no, howards main businesss is gambing in las vegas. he will have to disclose to the las vegas commsion his arrangeent and you will have holy hell to pay." On November 16, 2013 Stern asked Epstein, "Have you seen Cantor Fitzgerald proposal?" and Epstein answered "goofy."[^25]
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On August 9, 2013, in a thread headed "HL Loan," Epstein wrote to Stern: "no no no no no, howards main businesss is gambing in las vegas. he will have to disclose to the las vegas commsion his arrangeent and you will have holy hell to pay." On November 16, 2013 Stern asked Epstein, "Have you seen Cantor Fitzgerald proposal?" and Epstein answered "goofy."[^26]
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The BBC reported on July 14, 2026 that "advisers to both Lutnick and the former prince discussed the deal for four months, from August to November 2013, but it came to nothing," and that "Cantor Fitzgerald did not deny the talks took place but told the BBC it did not go into business with the former prince." [[Prince Andrew|Andrew Mountbatten-Windsor]] "did not respond to a request for comment." Elsewhere in the article, a [[White House]] statement made on behalf of Howard Lutnick said: "The BBC's pathetic and desperate attempt to slander Secretary Lutnick will do nothing to change the fact that he has been the most consequential Commerce Secretary in modern history."[^28]
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The BBC reported on July 14, 2026 that "advisers to both Lutnick and the former prince discussed the deal for four months, from August to November 2013, but it came to nothing," and that "Cantor Fitzgerald did not deny the talks took place but told the BBC it did not go into business with the former prince." [[Prince Andrew|Andrew Mountbatten-Windsor]] "did not respond to a request for comment." Elsewhere in the article, a [[White House]] statement made on behalf of Howard Lutnick said: "The BBC's pathetic and desperate attempt to slander Secretary Lutnick will do nothing to change the fact that he has been the most consequential Commerce Secretary in modern history."[^29]
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On November 14, 2013 a Cantor Fitzgerald managing director and deputy general counsel sent a message addressed "David" and attaching a draft agreement with the file name "LEGAL-#67891-v1-UML_Cantor_agreement_re_asset_management.docx," writing: "I have attached a draft agreement in connection with the matters we have discussed. Please note that it has not been fully reviewed internally but I believe it reflects the discussion we had." Stern forwarded it to Epstein at 7:36 PM the same day.[^29]
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On November 14, 2013 a Cantor Fitzgerald managing director and deputy general counsel sent a message addressed "David" and attaching a draft agreement with the file name "LEGAL-#67891-v1-UML_Cantor_agreement_re_asset_management.docx," writing: "I have attached a draft agreement in connection with the matters we have discussed. Please note that it has not been fully reviewed internally but I believe it reflects the discussion we had." Stern forwarded it to Epstein at 7:36 PM the same day.[^30]
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### Tether
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[[Paolo Ardoino]], the chief executive of [[Tether]], told [[The Block]] in an article of January 16, 2024 that Cantor Fitzgerald had been a Tether custodian since late 2021. The article reports Lutnick as saying, in a [[Bloomberg Television]] interview from the [[World Economic Forum]] in [[Davos]], "I manage many, many of their assets" and "From what we've seen, and we did a lot of work, they have the money," and states that in the preceding December he "reportedly said" he was a "big fan of this stablecoin called Tether. I hold their Treasuries. So I keep their Treasuries, and they have a lot of Treasuries." A person with direct knowledge of the matter told The Block that Cantor custodies "the vast vast majority" of Tether's reserves.[^30]
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[[Paolo Ardoino]], the chief executive of [[Tether]], told [[The Block]] in an article of January 16, 2024 that Cantor Fitzgerald had been a Tether custodian since late 2021. The article reports Lutnick as saying, in a [[Bloomberg Television]] interview from the [[World Economic Forum]] in [[Davos]], "I manage many, many of their assets" and "From what we've seen, and we did a lot of work, they have the money," and states that in the preceding December he "reportedly said" he was a "big fan of this stablecoin called Tether. I hold their Treasuries. So I keep their Treasuries, and they have a lot of Treasuries." A person with direct knowledge of the matter told The Block that Cantor custodies "the vast vast majority" of Tether's reserves.[^31]
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On January 27, 2025 Senator [[Elizabeth Warren]] wrote to Lutnick that Cantor Fitzgerald "holds a 5% stake in Tether and serves as Tether's asset manager," and that "you are handing over the reins of one of your companies to your 26-year-old son, who has worked closely with Tether on your behalf."[^31] On April 23, 2025 Cantor Equity Partners, Inc. and [[Twenty One Capital]], Inc. announced a business combination agreement, dated April 22, 2025, with entities of Tether, [[Bitfinex]] and [[SoftBank Group]]. [[Jack Mallers]] is Twenty One's chief executive. Twenty One began trading on the [[New York Stock Exchange]] as "XXI" on December 9, 2025, "majority-owned by Tether Investments, S.A. de C.V.... and Bitfinex, with significant minority ownership by SoftBank Group," holding over 43,500 bitcoin; Cantor Fitzgerald & Co. acted as financial and capital markets advisor to Cantor Equity Partners and placement agent for the PIPE financings.[^32]
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On January 27, 2025 Senator [[Elizabeth Warren]] wrote to Lutnick that Cantor Fitzgerald "holds a 5% stake in Tether and serves as Tether's asset manager," and that "you are handing over the reins of one of your companies to your 26-year-old son, who has worked closely with Tether on your behalf."[^32] On April 23, 2025 Cantor Equity Partners, Inc. and [[Twenty One Capital]], Inc. announced a business combination agreement, dated April 22, 2025, with entities of Tether, [[Bitfinex]] and [[SoftBank Group]]. [[Jack Mallers]] is Twenty One's chief executive. Twenty One began trading on the [[New York Stock Exchange]] as "XXI" on December 9, 2025, "majority-owned by Tether Investments, S.A. de C.V.... and Bitfinex, with significant minority ownership by SoftBank Group," holding over 43,500 bitcoin; Cantor Fitzgerald & Co. acted as financial and capital markets advisor to Cantor Equity Partners and placement agent for the PIPE financings.[^33]
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### SPACs
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Cantor sponsors special purpose acquisition companies under the names CF Finance Acquisition Corp. and CF Acquisition Corp., and Cantor Equity Partners. [[CF Acquisition Corp. VI]], sponsored by [[CFAC Holdings VI, LLC]] and with Howard Lutnick as chairman and chief executive officer, closed its business combination with the video platform [[Rumble]] on September 16, 2022, following approval by its stockholders at a special meeting on September 15; the company was renamed Rumble Inc.[^33][^34] On December 20, 2024 Rumble announced a $775 million strategic investment from Tether at $7.50 per share, with Rumble's chief executive [[Chris Pavlovski]] retaining his controlling stake and Tether without the right to designate directors.[^35]
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Cantor sponsors special purpose acquisition companies under the names CF Finance Acquisition Corp. and CF Acquisition Corp., and Cantor Equity Partners. [[CF Acquisition Corp. VI]], sponsored by [[CFAC Holdings VI, LLC]] and with Howard Lutnick as chairman and chief executive officer, closed its business combination with the video platform [[Rumble]] on September 16, 2022, following approval by its stockholders at a special meeting on September 15; the company was renamed Rumble Inc.[^34][^35] On December 20, 2024 Rumble announced a $775 million strategic investment from Tether at $7.50 per share, with Rumble's chief executive [[Chris Pavlovski]] retaining his controlling stake and Tether without the right to designate directors.[^36]
|
||||
|
||||
The SEC announced on December 12, 2024 that Cantor Fitzgerald, L.P. had agreed, without admitting or denying the findings, to pay a $6.75 million civil penalty. The order found that in 2020 and 2021 a team of Cantor executives "managed and controlled" [[CF Finance Acquisition Corp. II]] and [[CF Acquisition Corp. V]], which raised $750 million in initial public offerings ahead of mergers with [[View, Inc.]] and [[Satellogic]], and that Cantor "caused the SPACs in their SEC filings to deny having had contact or substantive discussions with potential business combination targets prior to their IPOs" when personnel had "already commenced negotiations" with the companies they eventually merged with.[^36]
|
||||
The SEC announced on December 12, 2024 that Cantor Fitzgerald, L.P. had agreed, without admitting or denying the findings, to pay a $6.75 million civil penalty. The order found that in 2020 and 2021 a team of Cantor executives "managed and controlled" [[CF Finance Acquisition Corp. II]] and [[CF Acquisition Corp. V]], which raised $750 million in initial public offerings ahead of mergers with [[View, Inc.]] and [[Satellogic]], and that Cantor "caused the SPACs in their SEC filings to deny having had contact or substantive discussions with potential business combination targets prior to their IPOs" when personnel had "already commenced negotiations" with the companies they eventually merged with.[^37]
|
||||
|
||||
### Enforcement Record
|
||||
|
||||
The SEC announced on April 6, 2020 that Cantor Fitzgerald & Co. had agreed to pay $3.2 million for deficient "blue sheet" trading data: for "almost five years" the firm's submissions contained missing or incorrect data for "approximately 35 million transactions." The firm admitted the findings and was censured.[^37] The 2019 [[Commodity Futures Trading Commission]] orders against BGC Financial, L.P. and GFI Securities, LLC, and the earlier SEC and [[Financial Industry Regulatory Authority|FINRA]] settlements recited in them, are set out at BGC Group. BGC's annual report states that CF&Co has entered into guarantees on behalf of BGC and GFI for the foreign introducing brokers' obligations to the CFTC, for which BGC indemnifies CF&Co.[^6]
|
||||
The SEC announced on April 6, 2020 that Cantor Fitzgerald & Co. had agreed to pay $3.2 million for deficient "blue sheet" trading data: for "almost five years" the firm's submissions contained missing or incorrect data for "approximately 35 million transactions." The firm admitted the findings and was censured.[^38] The 2019 [[Commodity Futures Trading Commission]] orders against BGC Financial, L.P. and GFI Securities, LLC, and the earlier SEC and [[Financial Industry Regulatory Authority|FINRA]] settlements recited in them, are set out at BGC Group. BGC's annual report states that CF&Co has entered into guarantees on behalf of BGC and GFI for the foreign introducing brokers' obligations to the CFTC, for which BGC indemnifies CF&Co.[^6]
|
||||
|
||||
### Government and Political Connections
|
||||
|
||||
An invitation sent on November 3, 2015 from the account "Lutnick, Howard" and forwarded to Epstein by his assistant [[Lesley Groff]] announced an event with [[Hillary Clinton]] at the Cantor Fitzgerald offices on November 11 from 5:30 to 6:30 p.m., described as "a very intimate fundraising event," with a [[Hillary for America]] contribution form attached (EFTA02671545). At his May 6, 2026 House Oversight interview Lutnick said that emails addressed to "Howard Lutnick" or "Lutnick, Howard" "went to [[Matthew Gilbert]]. They did not go to me," and that "You would know if they went to me if they are listed as 'HWL.'"[^38][^15] Lutnick was confirmed as Secretary of Commerce on February 18, 2025, and stepped down that day as chairman and chief executive of BGC; Brandon Lutnick was appointed chief executive officer and chairman of Cantor and chief executive officer of CFGM, and [[Kyle Lutnick]] executive vice chairman of Cantor and president of CFGM.[^2][^3] On May 19, 2025 BGC announced it would repurchase 16,452,850 shares from Lutnick for $151,501,133 "in furtherance of Mr. Lutnick's U.S. government ethics agreement," and that Lutnick would transfer his ownership interest in Cantor to trusts for the benefit of Brandon, Kyle and his other adult children, with Brandon as controlling trustee. The divestiture of holdings in BGC, Cantor and CFGM was completed on October 6, 2025, including the sale of all voting shares of CFGM to trusts controlled by Brandon Lutnick, who beneficially owned 2.0 million BGC Class A and 109.4 million Class B shares, 75.2 percent of BGC's total voting power, as of the date of BGC's annual report for 2025.[^2][^3][^39] The 2012 and later documents on Lutnick's relationship with Epstein are at Howard Lutnick; the 2020 [[Federal Bureau of Investigation|FBI]] complaint concerning Lutnick, BGC and Cantor is at BGC Group.
|
||||
An invitation sent on November 3, 2015 from the account "Lutnick, Howard" and forwarded to Epstein by his assistant [[Lesley Groff]] announced an event with [[Hillary Clinton]] at the Cantor Fitzgerald offices on November 11 from 5:30 to 6:30 p.m., described as "a very intimate fundraising event," with a [[Hillary for America]] contribution form attached (EFTA02671545). At his May 6, 2026 House Oversight interview Lutnick said that emails addressed to "Howard Lutnick" or "Lutnick, Howard" "went to [[Matthew Gilbert]]. They did not go to me," and that "You would know if they went to me if they are listed as 'HWL.'"[^16][^39] Lutnick was confirmed as Secretary of Commerce on February 18, 2025, and stepped down that day as chairman and chief executive of BGC; Brandon Lutnick was appointed chief executive officer and chairman of Cantor and chief executive officer of CFGM, and [[Kyle Lutnick]] executive vice chairman of Cantor and president of CFGM.[^2][^3] On May 19, 2025 BGC announced it would repurchase 16,452,850 shares from Lutnick for $151,501,133 "in furtherance of Mr. Lutnick's U.S. government ethics agreement," and that Lutnick would transfer his ownership interest in Cantor to trusts for the benefit of Brandon, Kyle and his other adult children, with Brandon as controlling trustee. The divestiture of holdings in BGC, Cantor and CFGM was completed on October 6, 2025, including the sale of all voting shares of CFGM to trusts controlled by Brandon Lutnick, who beneficially owned 2.0 million BGC Class A and 109.4 million Class B shares, 75.2 percent of BGC's total voting power, as of the date of BGC's annual report for 2025.[^2][^3][^40] The 2012 and later documents on Lutnick's relationship with Epstein are at Howard Lutnick; the 2020 [[Federal Bureau of Investigation|FBI]] complaint concerning Lutnick, BGC and Cantor is at BGC Group.
|
||||
|
||||
### Footnotes
|
||||
|
||||
|
|
@ -181,30 +181,31 @@ An invitation sent on November 3, 2015 from the account "Lutnick, Howard" and fo
|
|||
[^10]: National Commission on Terrorist Attacks Upon the United States, *The 9/11 Commission Report* (2004), hearing list, "The Experience of the Attack," Alexander Hamilton Customs House, New York, March 31 to April 1, 2003. https://www.9-11commission.gov/report/911Report.pdf
|
||||
[^11]: BGC Group, Inc., Form 10-K for 2025, "Our Organizational Structure," Cantor and CFGM Class B holdings as of December 31, 2025. https://www.sec.gov/Archives/edgar/data/1094831/000162828026013162/bgcg-20251231.htm
|
||||
[^12]: BGC Partners, Inc., Form 10-K for 2019, Legal Proceedings, *In re BGC Partners, Inc. Derivative Litigation,* Consolidated C.A. No. 2018-0722-AGB (Del. Ch.). https://www.sec.gov/Archives/edgar/data/1094831/000156459020007843/bgcp-10k_20191231.htm
|
||||
[^13]: Federal Reserve Bank of New York, "Primary Dealers" list and "Additions and Removals," entry of July 31, 2006. https://www.newyorkfed.org/markets/primarydealers
|
||||
[^14]: Cantor Equity Partners, Inc., prospectus (Form 424B4), 2024. https://www.sec.gov/Archives/edgar/data/1865602/000121390024068145/ea0204552-10.htm
|
||||
[^15]: U.S. House Committee on Oversight and Government Reform, transcribed interview of Howard W. Lutnick, May 6, 2026, pp. 22, 26-29, 87-89. https://oversight.house.gov/wp-content/uploads/2026/05/Lutnick-Transcript.pdf
|
||||
[^16]: Target Corporation, definitive proxy statement (Schedule 14A), filed April 29, 2019, biography of Henrique De Castro. https://www.sec.gov/Archives/edgar/data/27419/000130817919000197/ltgt2019_def14a.htm
|
||||
[^17]: U.S. Department of Justice, Epstein Library, EFTA00289560, DataSet 9, Series A Preferred Stock Purchase Agreement of AdFin Solutions, Inc., with Exhibit A, counterpart signature pages and letter agreement, July 2013; EFTA00289722, DataSet 9, stock certificate PA-7, July 23, 2013. https://www.justice.gov/epstein/files/DataSet%209/EFTA00289560.pdf ; https://www.justice.gov/epstein/files/DataSet%209/EFTA00289722.pdf
|
||||
[^18]: U.S. Department of Justice, Epstein Library, EFTA00392047, DataSet 9, email of April 19, 2013 on the April 10, 2013 closing. https://www.justice.gov/epstein/files/DataSet%209/EFTA00392047.pdf
|
||||
[^19]: U.S. Department of Justice, Epstein Library, EFTA00289541, DataSet 9, Note Purchase Agreement dated December 26, 2013 (signature page EFTA00289550); EFTA00289527, DataSet 9, stockholder consent, December 26, 2013. https://www.justice.gov/epstein/files/DataSet%209/EFTA00289541.pdf ; https://www.justice.gov/epstein/files/DataSet%209/EFTA00289527.pdf
|
||||
[^20]: U.S. Department of Justice, Epstein Library, EFTA01942504, DataSet 10, email from David Mitchell to Jeffrey Epstein, January 7, 2014. https://www.justice.gov/epstein/files/DataSet%2010/EFTA01942504.pdf
|
||||
[^21]: U.S. Department of Justice, Epstein Library, EFTA01084694, DataSet 9, letter from David Mitchell, February 16, 2016, with term sheet; EFTA00796718, DataSet 9, AdFin cap table as of January 4, 2018. https://www.justice.gov/epstein/files/DataSet%209/EFTA01084694.pdf ; https://www.justice.gov/epstein/files/DataSet%209/EFTA00796718.pdf
|
||||
[^22]: U.S. Department of Justice, Epstein Library, EFTA01050772, DataSet 9, email thread, May 28, 2018. https://www.justice.gov/epstein/files/DataSet%209/EFTA01050772.pdf
|
||||
[^23]: Weissbrot, Alison. "After A Rocky Road, Ad/Fin Shuts Its Doors." *AdExchanger,* October 17, 2019. https://www.adexchanger.com/agencies/after-a-rocky-road-ad-fin-shuts-its-doors/
|
||||
[^24]: Verity, Andy, Rob Byrne and Ben Milne. "How US commerce secretary's Epstein links were uncovered by British whistleblower." *BBC News,* July 14, 2026. https://www.bbc.co.uk/news/articles/c9q28dlyxrzo
|
||||
[^25]: U.S. Department of Justice, Epstein Library, EFTA01107738 and EFTA01107739, DataSet 9, term sheet of August 29, 2013; EFTA02573653, DataSet 11, thread "Re: HL Loan - CD/SM call note 8.8.13," August 9, 2013 (line-break characters of the text layer omitted); EFTA01949796 and EFTA01949827, DataSet 10, emails of November 16, 2013. https://www.justice.gov/epstein/files/DataSet%209/EFTA01107738.pdf ; https://www.justice.gov/epstein/files/DataSet%2011/EFTA02573653.pdf ; https://www.justice.gov/epstein/files/DataSet%2010/EFTA01949827.pdf
|
||||
[^26]: U.S. Department of Justice, Epstein Library, EFTA01958492, EFTA01958705 and EFTA01958916, DataSet 10, thread "Term Sheet from Cantor Fitzgerald to Mr. T," August 30 to September 2, 2013. https://www.justice.gov/epstein/files/DataSet%2010/EFTA01958492.pdf ; https://www.justice.gov/epstein/files/DataSet%2010/EFTA01958705.pdf ; https://www.justice.gov/epstein/files/DataSet%2010/EFTA01958916.pdf
|
||||
[^27]: U.S. Department of Justice, Epstein Library, EFTA01141453 to EFTA01141460, DataSet 9, "Agreement for Referrals" (draft) with Exhibits A and B. https://www.justice.gov/epstein/files/DataSet%209/EFTA01141453.pdf
|
||||
[^28]: Verity, Andy, Rob Byrne and Ben Milne. "How US commerce secretary's Epstein links were uncovered by British whistleblower." *BBC News,* July 14, 2026. https://www.bbc.co.uk/news/articles/c9q28dlyxrzo
|
||||
[^29]: U.S. Department of Justice, Epstein Library, EFTA02678017, DataSet 11, email from David Stern to Jeffrey Epstein, "Fwd: Draft Cantor agreement," November 14, 2013. https://www.justice.gov/epstein/files/DataSet%2011/EFTA02678017.pdf
|
||||
[^30]: Khatri, Yogita. "Cantor Fitzgerald CEO says Tether has the billions of dollars in reserves it claims." *The Block,* January 16, 2024 (edited by Nathan Crooks). https://www.theblock.co/post/272893/cantor-fitzgerald-ceo-tether-reserves
|
||||
[^31]: Warren, Elizabeth, letter to Howard Lutnick, January 27, 2025. https://www.warren.senate.gov/imo/media/doc/letter_to_lutnick.pdf
|
||||
[^32]: Cantor Equity Partners, Inc., Current Report on Form 8-K, April 23, 2025 (business combination agreement dated April 22, 2025). https://www.sec.gov/Archives/edgar/data/1865602/000121390025034374/ea0239222-8k425_cantor.htm ; Twenty One Capital, Inc., Current Report on Form 8-K, exhibit 99.1, press release of December 8, 2025. https://www.sec.gov/Archives/edgar/data/2070457/000121390025119445/ea026879401ex99-1_twenty.htm ; Cantor Equity Partners, Inc., Form 8-K, exhibit 99.1, press release of July 29, 2025. https://www.sec.gov/Archives/edgar/data/1865602/000121390025068458/ea025053801ex99-1_cantor.htm
|
||||
[^33]: CF Acquisition Corp. VI, Current Report on Form 8-K, September 22, 2022 (report of September 16, 2022 closing; sponsor CFAC Holdings VI, LLC). https://www.sec.gov/Archives/edgar/data/1830081/000121390022058065/ea166065-8k_rumbleinc.htm
|
||||
[^34]: CF Acquisition Corp. VI, Current Report on Form 8-K, December 2, 2021 (signed by Howard W. Lutnick). https://www.sec.gov/Archives/edgar/data/1830081/000121390021063093/ea151639-8k_cfacquisit6.htm
|
||||
[^35]: Rumble Inc., Current Report on Form 8-K, exhibit 99.1, press release of December 20, 2024. https://www.sec.gov/Archives/edgar/data/1830081/000121390024111292/ea022562201ex99-1_rumble.htm
|
||||
[^36]: U.S. Securities and Exchange Commission, "SEC Charges Cantor Fitzgerald Over Misleading SPAC Disclosures," press release 2024-199, December 12, 2024. https://www.sec.gov/newsroom/press-releases/2024-199
|
||||
[^37]: U.S. Securities and Exchange Commission, "Cantor Fitzgerald Agrees to Pay $3.2 Million to Settle Charges for Providing Deficient Blue Sheet Data," press release 2020-81, April 6, 2020. https://www.sec.gov/news/press-release/2020-81
|
||||
[^38]: U.S. Department of Justice, Epstein Library, EFTA02671545, DataSet 11, email forwarded by Lesley Groff, "November 11th - Hillary Clinton Event at Cantor Fitzgerald." https://www.justice.gov/epstein/files/DataSet%2011/EFTA02671545.pdf
|
||||
[^39]: BGC Group, Inc., Form 8-K, exhibit 99.1, press release of May 19, 2025. https://www.sec.gov/Archives/edgar/data/1094831/000121390025045119/ea024268501ex99-1_bgc.htm
|
||||
[^13]: In re BGC Partners, Inc. Derivative Litigation, No. 359, 2022 (Del. Aug. 10, 2023) (order affirming the Court of Chancery's final judgment of September 27, 2022, entered on its memorandum opinion of August 19, 2022). https://courts.delaware.gov/Opinions/Download.aspx?id=351370
|
||||
[^14]: Federal Reserve Bank of New York, "Primary Dealers" list and "Additions and Removals," entry of July 31, 2006. https://www.newyorkfed.org/markets/primarydealers
|
||||
[^15]: Cantor Equity Partners, Inc., prospectus (Form 424B4), 2024. https://www.sec.gov/Archives/edgar/data/1865602/000121390024068145/ea0204552-10.htm
|
||||
[^16]: U.S. House Committee on Oversight and Government Reform, transcribed interview of Howard W. Lutnick, May 6, 2026, pp. 22, 26-29, 87-89. https://oversight.house.gov/wp-content/uploads/2026/05/Lutnick-Transcript.pdf
|
||||
[^17]: Target Corporation, definitive proxy statement (Schedule 14A), filed April 29, 2019, biography of Henrique De Castro. https://www.sec.gov/Archives/edgar/data/27419/000130817919000197/ltgt2019_def14a.htm
|
||||
[^18]: U.S. Department of Justice, Epstein Library, EFTA00289560, DataSet 9, Series A Preferred Stock Purchase Agreement of AdFin Solutions, Inc., with Exhibit A, counterpart signature pages and letter agreement, July 2013; EFTA00289722, DataSet 9, stock certificate PA-7, July 23, 2013. https://www.justice.gov/epstein/files/DataSet%209/EFTA00289560.pdf ; https://www.justice.gov/epstein/files/DataSet%209/EFTA00289722.pdf
|
||||
[^19]: U.S. Department of Justice, Epstein Library, EFTA00392047, DataSet 9, email of April 19, 2013 on the April 10, 2013 closing. https://www.justice.gov/epstein/files/DataSet%209/EFTA00392047.pdf
|
||||
[^20]: U.S. Department of Justice, Epstein Library, EFTA00289541, DataSet 9, Note Purchase Agreement dated December 26, 2013 (signature page EFTA00289550); EFTA00289527, DataSet 9, stockholder consent, December 26, 2013. https://www.justice.gov/epstein/files/DataSet%209/EFTA00289541.pdf ; https://www.justice.gov/epstein/files/DataSet%209/EFTA00289527.pdf
|
||||
[^21]: U.S. Department of Justice, Epstein Library, EFTA01942504, DataSet 10, email from David Mitchell to Jeffrey Epstein, January 7, 2014. https://www.justice.gov/epstein/files/DataSet%2010/EFTA01942504.pdf
|
||||
[^22]: U.S. Department of Justice, Epstein Library, EFTA01084694, DataSet 9, letter from David Mitchell, February 16, 2016, with term sheet; EFTA00796718, DataSet 9, AdFin cap table as of January 4, 2018. https://www.justice.gov/epstein/files/DataSet%209/EFTA01084694.pdf ; https://www.justice.gov/epstein/files/DataSet%209/EFTA00796718.pdf
|
||||
[^23]: U.S. Department of Justice, Epstein Library, EFTA01050772, DataSet 9, email thread, May 28, 2018. https://www.justice.gov/epstein/files/DataSet%209/EFTA01050772.pdf
|
||||
[^24]: Weissbrot, Alison. "After A Rocky Road, Ad/Fin Shuts Its Doors." *AdExchanger,* October 17, 2019. https://www.adexchanger.com/agencies/after-a-rocky-road-ad-fin-shuts-its-doors/
|
||||
[^25]: Verity, Andy, Rob Byrne and Ben Milne. "How US commerce secretary's Epstein links were uncovered by British whistleblower." *BBC News,* July 14, 2026. https://www.bbc.co.uk/news/articles/c9q28dlyxrzo
|
||||
[^26]: U.S. Department of Justice, Epstein Library, EFTA01107738 and EFTA01107739, DataSet 9, term sheet of August 29, 2013; EFTA02573653, DataSet 11, thread "Re: HL Loan - CD/SM call note 8.8.13," August 9, 2013 (line-break characters of the text layer omitted); EFTA01949796 and EFTA01949827, DataSet 10, emails of November 16, 2013. https://www.justice.gov/epstein/files/DataSet%209/EFTA01107738.pdf ; https://www.justice.gov/epstein/files/DataSet%2011/EFTA02573653.pdf ; https://www.justice.gov/epstein/files/DataSet%2010/EFTA01949827.pdf
|
||||
[^27]: U.S. Department of Justice, Epstein Library, EFTA01958492, EFTA01958705 and EFTA01958916, DataSet 10, thread "Term Sheet from Cantor Fitzgerald to Mr. T," August 30 to September 2, 2013. https://www.justice.gov/epstein/files/DataSet%2010/EFTA01958492.pdf ; https://www.justice.gov/epstein/files/DataSet%2010/EFTA01958705.pdf ; https://www.justice.gov/epstein/files/DataSet%2010/EFTA01958916.pdf
|
||||
[^28]: U.S. Department of Justice, Epstein Library, EFTA01141453 to EFTA01141460, DataSet 9, "Agreement for Referrals" (draft) with Exhibits A and B. https://www.justice.gov/epstein/files/DataSet%209/EFTA01141453.pdf
|
||||
[^29]: Verity, Andy, Rob Byrne and Ben Milne. "How US commerce secretary's Epstein links were uncovered by British whistleblower." *BBC News,* July 14, 2026. https://www.bbc.co.uk/news/articles/c9q28dlyxrzo
|
||||
[^30]: U.S. Department of Justice, Epstein Library, EFTA02678017, DataSet 11, email from David Stern to Jeffrey Epstein, "Fwd: Draft Cantor agreement," November 14, 2013. https://www.justice.gov/epstein/files/DataSet%2011/EFTA02678017.pdf
|
||||
[^31]: Khatri, Yogita. "Cantor Fitzgerald CEO says Tether has the billions of dollars in reserves it claims." *The Block,* January 16, 2024 (edited by Nathan Crooks). https://www.theblock.co/post/272893/cantor-fitzgerald-ceo-tether-reserves
|
||||
[^32]: Warren, Elizabeth, letter to Howard Lutnick, January 27, 2025. https://www.warren.senate.gov/imo/media/doc/letter_to_lutnick.pdf
|
||||
[^33]: Cantor Equity Partners, Inc., Current Report on Form 8-K, April 23, 2025 (business combination agreement dated April 22, 2025). https://www.sec.gov/Archives/edgar/data/1865602/000121390025034374/ea0239222-8k425_cantor.htm ; Twenty One Capital, Inc., Current Report on Form 8-K, exhibit 99.1, press release of December 8, 2025. https://www.sec.gov/Archives/edgar/data/2070457/000121390025119445/ea026879401ex99-1_twenty.htm ; Cantor Equity Partners, Inc., Form 8-K, exhibit 99.1, press release of July 29, 2025. https://www.sec.gov/Archives/edgar/data/1865602/000121390025068458/ea025053801ex99-1_cantor.htm
|
||||
[^34]: CF Acquisition Corp. VI, Current Report on Form 8-K, September 22, 2022 (report of September 16, 2022 closing; sponsor CFAC Holdings VI, LLC). https://www.sec.gov/Archives/edgar/data/1830081/000121390022058065/ea166065-8k_rumbleinc.htm
|
||||
[^35]: CF Acquisition Corp. VI, Current Report on Form 8-K, December 2, 2021 (signed by Howard W. Lutnick). https://www.sec.gov/Archives/edgar/data/1830081/000121390021063093/ea151639-8k_cfacquisit6.htm
|
||||
[^36]: Rumble Inc., Current Report on Form 8-K, exhibit 99.1, press release of December 20, 2024. https://www.sec.gov/Archives/edgar/data/1830081/000121390024111292/ea022562201ex99-1_rumble.htm
|
||||
[^37]: U.S. Securities and Exchange Commission, "SEC Charges Cantor Fitzgerald Over Misleading SPAC Disclosures," press release 2024-199, December 12, 2024. https://www.sec.gov/newsroom/press-releases/2024-199
|
||||
[^38]: U.S. Securities and Exchange Commission, "Cantor Fitzgerald Agrees to Pay $3.2 Million to Settle Charges for Providing Deficient Blue Sheet Data," press release 2020-81, April 6, 2020. https://www.sec.gov/news/press-release/2020-81
|
||||
[^39]: U.S. Department of Justice, Epstein Library, EFTA02671545, DataSet 11, email forwarded by Lesley Groff, "November 11th - Hillary Clinton Event at Cantor Fitzgerald." https://www.justice.gov/epstein/files/DataSet%2011/EFTA02671545.pdf
|
||||
[^40]: BGC Group, Inc., Form 8-K, exhibit 99.1, press release of May 19, 2025. https://www.sec.gov/Archives/edgar/data/1094831/000121390025045119/ea024268501ex99-1_bgc.htm
|
||||
|
|
|
|||
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