Donald Trump's Commerce Secretary pick, Howard Lutnick, is discussing expanding his financial relationship with Tether, operator of the world’s largest stablecoin. Lutnick's firm, Cantor Fitzgerald, is exploring a $2 billion project to lend dollars to clients against Bitcoin, potentially scaling to tens of billions. Tether holds billions in Treasuries with Cantor to back its stablecoin and said it seeks new investment opportunities using past profits. Stablecoins are pegged to traditional currencies and maintain a constant value.