Trump Fed pick ties spotlight Tether’s USAT

Kevin Warsh, President Donald Trump’s nominee to chair the Federal Reserve, previously advised Anchorage Digital, a key partner in Tether’s push to launch a US-regulated stablecoin.

Anchorage Digital has been selected to issue Tether’s USAT stablecoin, which the company last week described as its first product designed to comply with US stablecoin legislation.

“He has been an advisor to Anchorage since the very beginning,”

Said Anchorage Digital co-founder and chief executive, Nathan McCauley, welcoming Warsh’s nomination.

Warsh’s past advisory role also creates an indirect link to Commerce Secretary Howard Lutnick, whose former firm Cantor Fitzgerald custodies a portion of Tether’s reserves and has been named a reserve custodian and primary dealer for USAT.

Tether said USAT will meet US regulatory requirements by using a bank-based structure, in contrast to its flagship USDT stablecoin, which is partly backed by assets such as bitcoin and gold.

Anchorage Digital, founded in 2017, later became the first crypto bank to receive a federal charter in the US, positioning it as a regulated bridge between traditional finance and digital assets.