The collaboration between Tether and Cantor Fitzgerald has significantly enhanced Tether’s reputation and credibility, quieting doubts that have lingered for years about USDT. Through partnerships with financial giants and the establishment of “21 Capital”, Tether seems to have established itself within Wall Street, gaining legitimacy.

This new development signifies a Tether that is closely connected with Wall Street, surpassing the institutionalization of many of its harshest critics. By linking up with Cantor Fitzgerald and SoftBank, Tether’s credibility has been bolstered, regulatory risks minimized, and its position as a major player in the mainstream financial arena solidified.

Cantor Fitzgerald, a prominent Wall Street brokerage firm, joined forces with Tether in 2021 prior to Howard Lutnick's government role. As the U.S. Commerce Secretary, Lutnick plays a critical role in fostering economic growth and overseeing policies related to trade and industry. Through this partnership, Cantor became the key custodian of Tether’s reserves held in the U.S. Treasury.

By late 2024, Cantor was safeguarding around 80% of Tether’s $132 billion in reserves, which later increased to 99%. This move has forced skeptics, who once questioned the existence of Tether’s reserves, to accept the fact that a reputable brokerage firm now oversees the majority of these assets.

Moreover, Cantor didn’t merely act as a custodian for Tether; it also acquired a 5% equity stake in Tether, valued at approximately $600 million. This move demonstrates Cantor’s commitment to Tether's stability and financial soundness. The involvement of Cantor Fitzgerald not only shields Tether against regulatory challenges but also boosts its credibility due to the firm’s longstanding reputation in the financial sector.

Additionally, SoftBank's participation in the launch of 21 Capital in April 2025, alongside Tether and Cantor Fitzgerald, further reinforces Tether’s legitimacy. The commitment of $900 million by SoftBank to this Bitcoin-focused venture signals thorough due diligence and adds global investment influence to the partnership. This collaboration with SoftBank implies that stablecoins are now within the scope of the conglomerate's interests.

The formation of 21 Capital is a culmination of these alliances, representing an investment vehicle that is set to debut on Nasdaq under the symbol “XXI.” This initiative not only signifies Tether's move towards institutional goals but also exposes a portion of Tether's operations to public market scrutiny.

In conclusion, the Tether Cantor Fitzgerald collaboration, in conjunction with the involvement of SoftBank, has transformed Tether's standing in the financial world, minimizing risks while positioning it as a more credible and interconnected player.