{"id":2906,"date":"2025-05-21T08:57:53","date_gmt":"2025-05-21T07:57:53","guid":{"rendered":"https:\/\/vr-news.net\/2025\/05\/report-commerce-sec-lutnicks-family-business-dumped-at-least-300m-more-into-largest-corporate-bitcoin-holder-as-lutnick-helped-establish-trumps-strategic-bitcoin-reserve\/"},"modified":"2025-05-21T08:57:53","modified_gmt":"2025-05-21T07:57:53","slug":"report-commerce-sec-lutnicks-family-business-dumped-at-least-300m-more-into-largest-corporate-bitcoin-holder-as-lutnick-helped-establish-trumps-strategic-bitcoin-reserve","status":"publish","type":"post","link":"https:\/\/vr-news.net\/?p=2906","title":{"rendered":"Report: Commerce Sec. Lutnick\u2019s Family Business Dumped At Least $300M More Into Largest Corporate Bitcoin Holder As Lutnick Helped Establish Trump\u2019s Strategic Bitcoin Reserve"},"content":{"rendered":"<p>An Accountable.US <a href=\"https:\/\/accountable.us\/wp-content\/uploads\/2025\/05\/2025-05-15-Commerce-Sec-Howard-Lutnick-Crypto-Interests-Cantor-Fitzgerald-Q1-2025-13F-Filing.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">review<\/a> of Q1 2025 SEC filings posted this week for Cantor Fitzgerald \u2013 billionaire Trump Commerce Secretary Howard Lutnick\u2019s family-run financial services firm \u2013 reveals that while Lutnick was playing a leading role in President Trump\u2019s national Bitcoin reserve effort, Lutnick\u2019s family business empire dramatically deepened its investment in Microstrategy (now called Strategy), the largest corporate holder of Bitcoin in the world. From Q4 2024 to Q1 2025, Lutnick\u2019s family-run Cantor Fitzgerald increased its holding of regular Strategy stock by $304 million, to a total of $1.3 billion, <a href=\"https:\/\/www.cnn.com\/2025\/03\/13\/business\/trump-officials-crypto-bitcoin\" rel=\"noopener noreferrer\" target=\"_blank\">even amid being publicly criticized for the egregious conflict of interest.<\/a> Including puts and calls, Accountable.US found Cantor boosted its total investment by over $568 million to over $2.1 billion, representing 44.5% of the firm\u2019s portfolio. <\/p>\n<p>\u201cPresident Trump\u2019s billionaire Commerce Secretary has been playing the ultimate Washington insider game to pad his family\u2019s riches,\u201d said <strong>Accountable.US Executive Director. \u201c<\/strong>From the White House, Howard Lutnick has played a leading role in orchestrating Trump\u2019s Bitcoin reserve policy at the same time his family company was pumping hundreds of millions of dollars into the biggest corporate Bitcoin holder in the game \u2013 pushing up their stake by at least $300 million. While both the Lutnick and Trump families seem to be self enriching from positions of power with their massive crypto interests, their bumbling tariff policies and harsh budget plans stand to leave millions of working people with less health and financial security.\u201d<\/p>\n<p><a href=\"https:\/\/accountable.us\/wp-content\/uploads\/2025\/05\/2025-05-15-Commerce-Sec-Howard-Lutnick-Crypto-Interests-Cantor-Fitzgerald-Q1-2025-13F-Filing.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">WHAT YOU NEED TO KNOW<\/a>: <\/p>\n<ul>\n<li>In early March 2025, President Trump held the first White House Crypto Summit, where industry leaders discussed \u201c<a href=\"https:\/\/www.thestreet.com\/crypto\/markets\/microstrategy-stock-jumps-10-as-bitcoin-surges-on-trumps-crypto-reserve-plan\" rel=\"noopener noreferrer\" target=\"_blank\">regulations, stablecoins, and Bitcoin\u2019s potential role in the financial system<\/a>.\u201d <\/li>\n<li>Ahead of the summit, Trump\u2019s billionaire Commerce Secretary Howard Lutnick broke news by saying the summit would likely reveal a \u201c<a href=\"https:\/\/www.forbes.com\/sites\/digital-assets\/2025\/03\/05\/bitcoin-price-suddenly-soars-after-lutnick-reportedly-reveals-massive-trump-reserve-plan\/\" rel=\"noopener noreferrer\" target=\"_blank\">unique status<\/a>\u201d for Bitcoin, the most popular cryptocurrency, in an unprecedented national crypto strategic reserve Trump <a href=\"https:\/\/apnews.com\/article\/trump-crypto-bitcoin-digital-assets-reserve-2f4246434a657f248cd85296f14382f9\" rel=\"noopener noreferrer\" target=\"_blank\">announced<\/a> days earlier. Then, the day before the summit, Trump signed an executive order establishing a \u201c<a href=\"https:\/\/www.whitehouse.gov\/fact-sheets\/2025\/03\/fact-sheet-president-donald-j-trump-establishes-the-strategic-bitcoin-reserve-and-u-s-digital-asset-stockpile\/\" rel=\"noopener noreferrer\" target=\"_blank\">Strategic Bitcoin Reserve<\/a>,\u201d plus a separate \u201c<a href=\"https:\/\/www.whitehouse.gov\/fact-sheets\/2025\/03\/fact-sheet-president-donald-j-trump-establishes-the-strategic-bitcoin-reserve-and-u-s-digital-asset-stockpile\/\" rel=\"noopener noreferrer\" target=\"_blank\">U.S. Digital Asset Stockpile<\/a>\u201d for other types of cryptocurrencies. Ahead of the policy announcement, critics called Trump\u2019s crypto plans a \u201c<a href=\"https:\/\/www.vanityfair.com\/news\/story\/bitcoin-bros-donald-trumps-crypto-reserve?srsltid=AfmBOoqoDgUJ_vO4UNBlptkS_fTxdh-_uT2fZ6Gak7ydfbXWMTvyOFrD\" rel=\"noopener noreferrer\" target=\"_blank\">gift to the industry<\/a>,\u201d \u201c<a href=\"https:\/\/newrepublic.com\/post\/192207\/trump-crypto-reserve-corruption\" rel=\"noopener noreferrer\" target=\"_blank\">open corruption<\/a>,\u201d and possibly a \u201c<a href=\"https:\/\/newrepublic.com\/post\/192207\/trump-crypto-reserve-corruption\" rel=\"noopener noreferrer\" target=\"_blank\">blatant insider trading scam<\/a>.\u201d <\/li>\n<li>Lutnick, who was CEO of \u201c<a href=\"https:\/\/www.nbcnews.com\/politics\/donald-trump\/trump-expected-pick-cantor-fitzgerald-ceo-howard-lutnick-commerce-secr-rcna180176\" rel=\"noopener noreferrer\" target=\"_blank\">titan<\/a>\u201d financial firm Cantor Fitzgerald, helped lead Trump\u2019s <a href=\"https:\/\/www.forbes.com\/sites\/digital-assets\/2025\/03\/05\/bitcoin-price-suddenly-soars-after-lutnick-reportedly-reveals-massive-trump-reserve-plan\/\" rel=\"noopener noreferrer\" target=\"_blank\">crypto reserve<\/a> and <a href=\"https:\/\/fortune.com\/crypto\/2025\/02\/04\/trump-sovereign-wealth-fund-will-it-include-bitcoin\/\" rel=\"noopener noreferrer\" target=\"_blank\">sovereign wealth fund<\/a>, which was expected to invest in crypto. After his confirmation, Lutnick gave control of the business to his <a href=\"https:\/\/fortune.com\/2025\/02\/20\/howard-lutnick-sons-brandon-kyle-cantor-fitzgerald-ceo-chairman-dynasty\/\" rel=\"noopener noreferrer\" target=\"_blank\">two 20-something-year-old sons<\/a>\u2014though insiders said his \u201c<a href=\"https:\/\/www.bloomberg.com\/news\/features\/2024-11-27\/trump-commerce-secretary-howard-lutnick-eases-grip-on-billionaire-empire?sref=F7j0rXiB\" rel=\"noopener noreferrer\" target=\"_blank\">grip on his various businesses is bolted tight<\/a>\u201d ahead of his confirmation, and expressed skepticism about his ability to truly relinquish control.<\/li>\n<li>In a <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1024896\/000092963825001913\/0000929638-25-001913-index.html\" rel=\"noopener noreferrer\" target=\"_blank\">new filing<\/a> for Q1 2025, Cantor Fitzgerald revealed holding up to $2.1 billion in Microstrategy Inc. (now called Strategy), which has \u201c<a href=\"https:\/\/www.thestreet.com\/crypto\/markets\/microstrategy-stock-jumps-10-as-bitcoin-surges-on-trumps-crypto-reserve-plan\" rel=\"noopener noreferrer\" target=\"_blank\">the largest corporate Bitcoin holding in the world<\/a>\u201d and was seen as \u201c\u2018<a href=\"https:\/\/www.thestreet.com\/crypto\/markets\/microstrategy-stock-jumps-10-as-bitcoin-surges-on-trumps-crypto-reserve-plan\" rel=\"noopener noreferrer\" target=\"_blank\">a big beneficiary<\/a>\u2019\u201d of Trump\u2019s crypto reserve announcement, also made in Q1 2025. Ahead of Trump\u2019s official announcement, Lutnick notably said the reserve would give Bitcoin a \u201c<a href=\"https:\/\/www.forbes.com\/sites\/digital-assets\/2025\/03\/05\/bitcoin-price-suddenly-soars-after-lutnick-reportedly-reveals-massive-trump-reserve-plan\/\" rel=\"noopener noreferrer\" target=\"_blank\">unique status<\/a>\u201d over other cryptocurrencies. <\/li>\n<li>From Q4 2024 to Q1 2025, Cantor Fitzgerald <a href=\"https:\/\/accountable.us\/wp-content\/uploads\/2025\/05\/2025-05-15-Commerce-Sec-Howard-Lutnick-Crypto-Interests-Cantor-Fitzgerald-Q1-2025-13F-Filing.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">increased<\/a> its total holding in Strategy by over 1.9 million shares valued at over $568 million, to a total of over 7.4 million shares valued at over $2.1 billion. Excluding puts and calls, Cantor still bought over 1 million more shares valued at $304 million in Q1 2025. <\/li>\n<li>In Q1 2025, Strategy continued to be Cantor Fitzgerald\u2019s largest holding, according to <a href=\"https:\/\/fintel.io\/i\/cantor-fitzgerald\" rel=\"noopener noreferrer\" target=\"_blank\">Fintel<\/a>, with the company representing <a href=\"https:\/\/accountable.us\/wp-content\/uploads\/2025\/05\/2025-05-15-Commerce-Sec-Howard-Lutnick-Crypto-Interests-Cantor-Fitzgerald-Q1-2025-13F-Filing.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">44.5%<\/a> of Cantor\u2019s portfolio, including puts and calls. <\/li>\n<li>CNN previously <a href=\"https:\/\/www.cnn.com\/2025\/03\/13\/business\/trump-officials-crypto-bitcoin\" rel=\"noopener noreferrer\" target=\"_blank\">reported<\/a> Accountable.US <a href=\"https:\/\/accountable.us\/report-top-trump-officials-tied-to-billions-in-crypto-investments-may-have-benefited-from-administrations-strategic-bitcoin-reserve-rollout\/\" rel=\"noopener noreferrer\" target=\"_blank\">research<\/a> revealing Cantor Fitzgerald\u2019s total investment of $1.5 billion in Strategy in Q4 2024. <\/li>\n<li>On March 7, 2025, the day after he <a href=\"https:\/\/www.whitehouse.gov\/fact-sheets\/2025\/03\/fact-sheet-president-donald-j-trump-establishes-the-strategic-bitcoin-reserve-and-u-s-digital-asset-stockpile\/\" rel=\"noopener noreferrer\" target=\"_blank\">established<\/a> the Strategic Bitcoin Reserve, President Trump held a White House <a href=\"https:\/\/www.whitehouse.gov\/remarks\/2025\/03\/remarks-by-president-trump-at-the-white-house-digital-assets-summit\/\" rel=\"noopener noreferrer\" target=\"_blank\">crypto summit<\/a>\u2014with Howard Lutnick and Strategy\u2019s Executive Chairman Michael Saylor <a href=\"https:\/\/www.instagram.com\/michael_saylor\/p\/DG8L06zR1Rb\/\" rel=\"noopener noreferrer\" target=\"_blank\">in attendance<\/a>. Meanwhile, Cantor Fitzgerald\u2019s holding in Strategy\u2019s Class A shares <a href=\"https:\/\/accountable.us\/wp-content\/uploads\/2025\/05\/2025-05-15-Commerce-Sec-Howard-Lutnick-Crypto-Interests-Cantor-Fitzgerald-Q1-2025-13F-Filing.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">soared by 20%<\/a> from the day before Trump\u2019s reserve announcement to the day Lutnick announced Bitcoin\u2019s unique status in the fund. <\/li>\n<li>In Q1 2025, Cantor Fitzgerald also reported nearly <a href=\"https:\/\/accountable.us\/wp-content\/uploads\/2025\/05\/2025-05-15-Commerce-Sec-Howard-Lutnick-Crypto-Interests-Cantor-Fitzgerald-Q1-2025-13F-Filing.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">$88 million<\/a> in other Bitcoin-related investments, including over $86 million in iShares Bitcoin Trust ETF. <\/li>\n<li>In March 2025, after the Bitcoin strategic reserve announcement, Cantor Fitzgerald announced a new <a href=\"https:\/\/www.cantor.com\/cantor-fitzgerald-partners-with-digital-asset-custodians-anchorage-digital-and-copper-co-to-support-bitcoin-financing-business\/\" rel=\"noopener noreferrer\" target=\"_blank\">$2 billion Bitcoin financing partnership<\/a>, with Cantor\u2019s Head of Bitcoin Financing saying they \u201c\u2018<a href=\"https:\/\/www.cantor.com\/cantor-fitzgerald-partners-with-digital-asset-custodians-anchorage-digital-and-copper-co-to-support-bitcoin-financing-business\/\" rel=\"noopener noreferrer\" target=\"_blank\">expect to substantially grow the operation over time<\/a>.\u2019\u201d The move was seen as an expansion of Cantor\u2019s bitcoin business \u201c<a href=\"https:\/\/bitcoinmagazine.com\/news\/cantor-fitzgerald-to-expand-bitcoin-financing-amid-u-s-policy-shift\" rel=\"noopener noreferrer\" target=\"_blank\">in the wake of Trump administration changes<\/a>.\u201d <\/li>\n<\/ul>\n<p>Accountable.US has previously documented <a href=\"https:\/\/accountable.us\/report-trumps-billionaire-commerce-pick-howard-lutnicks-empire-deeply-conflicted-with-investments-in-cryptocurrency-computer-chipmaker-nvidia-satellite-industry\/\" rel=\"noopener noreferrer\" target=\"_blank\">billions of dollars of interests<\/a> Cantor Fitzgerald is involved in that could directly benefit from Lutnick\u2019s role as Commerce Secretary \u2013 including <a href=\"https:\/\/accountable.us\/ethically-challenged-commerce-sec-lutnick-tells-national-tv-audience-to-buy-tesla-stock-as-his-family-business-apparently-holds-840m-in-tesla\/\" rel=\"noopener noreferrer\" target=\"_blank\">urging a national television audience to \u201cbuy Tesla\u201d stock in March<\/a> while his family-run firm Cantor Fitzgerald reported holding nearly $840 million in Tesla Inc. in its most recent holdings report. Conveniently, Lutnick\u2019s appeal to would-be average investors came on the same day Cantor Fitzgerald analysts <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-19\/lutnick-s-cantor-upgrades-stock-rating-on-musk-s-tesla-to-a-buy?srnd=all&amp;sref=F7j0rXiB\" rel=\"noopener noreferrer\" target=\"_blank\">upgraded Tesla to a \u201cbuy\u201d rating.<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>An Accountable.US review of Q1 2025 SEC filings posted this week for Cantor Fitzgerald \u2013 billionaire Trump Commerce Secretary Howard Lutnick\u2019s family-run financial services firm \u2013 reveals that while Lutnick was playing a leading role in President Trump\u2019s national Bitcoin reserve effort, Lutnick\u2019s family business empire dramatically deepened its investment in Microstrategy (now called Strategy), [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2906","post","type-post","status-publish","format-standard","hentry","category-noticias"],"_links":{"self":[{"href":"https:\/\/vr-news.net\/index.php?rest_route=\/wp\/v2\/posts\/2906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vr-news.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vr-news.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vr-news.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2906"}],"version-history":[{"count":0,"href":"https:\/\/vr-news.net\/index.php?rest_route=\/wp\/v2\/posts\/2906\/revisions"}],"wp:attachment":[{"href":"https:\/\/vr-news.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vr-news.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vr-news.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}