Welcome back to The Breakdown with me, NLW.

It's a daily podcast on Macro, Bitcoin, and the Big Picture Power Shifts remaking our world.

What's going on, guys? It is Monday, August 19th, and today we are talking about the

crypto connection on the Trump transition team. Before we get into that, however, if you are

enjoying the breakdown, please go subscribe to it, give it a rating, give it a review, or if you

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breakdown pod. All right, friends, happy Monday. Today we are back in the political sphere,

where former President Donald Trump has appointed Cantor Fitzgerald CEO Howard Lutnik as the

co-chair of his transition team. In January, Lutnik made headlines in the crypto world when he

revealed that Cantor Fitzgerald

is managing a part of Tether's portfolio of treasury bills. He did not reveal how much of Tether's

reserves is being custodied with Cantor. However, he used the opportunity to vouch for the

stable coin issuer, stating, they have the money that they say they have. Letnick's appointment

to the Trump transition team is being viewed through a few different

lenses. First and foremost, it's being reported as an example of pay-to-play influence. The second co-chair

and the person grabbing the most headlines is wrestling industry matriarch Linda McMahon. Lutnik and

McMahon are both Trump donors who have held massive fundraisers. Before you jump out of your seats,

remember, I am just trying to report how the meta-analysis of these things are going.

I'm not making the argument myself.

Second, the appointees are being reported as a way of keeping tight control over a potential Trump administration.

The transition team is responsible for vetting and hiring political appointees, such as the head of federal agencies.

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