Elon Musk has publicly endorsed Howard Lutnick, CEO of Cantor Fitzgerald, for the position of U.S. Treasury Secretary, highlighting Lutnick’s potential to “actually enact change.”

Lutnick, a prominent figure in the financial sector, has been a vocal advocate for cryptocurrencies, particularly Bitcoin. Under his leadership, Cantor Fitzgerald has managed Tether’s Treasury portfolio since 2021 and expanded its role to include Tether’s bond portfolio in 2023.

The endorsement comes amid President-elect Donald Trump’s deliberations over key cabinet appointments. Lutnick and investor Scott Bessent are considered leading candidates for the Treasury Secretary role. Musk’s support for Lutnick suggests a preference for a transformative approach to U.S. economic policy.

Lutnick’s involvement in the cryptocurrency sector aligns with the growing integration of digital assets into mainstream finance. His firm’s collaboration with Tether underscores a commitment to advancing the adoption and management of digital currencies.

As the selection process for the Treasury Secretary position continues, Musk’s endorsement may influence the decision, reflecting a broader trend toward embracing innovative financial technologies within the U.S. government’s economic strategy.