Howard Lutnick, President Donald Trump's nominee to lead the Commerce Department, on Friday disclosed his financial holdings and assets ahead of a Senate hearing to confirm him for the role.

Lutnick is stepping down as head of investment bank Cantor Fitzgerald as he prepares to head the Commerce Department.

President Donald Trump’s rich Cabinet picks are either buying or looking for lavish houses in the capital, the Wall Street Journal reported.

Howard Lutnick, President Donald Trump’s nominee to lead the Commerce Department, detailed his wealth and influence across hundreds of firms and left open the possibility of his adult children buying his holdings if he wins confirmation.

Tether has undeniably played a pivotal role in bridging traditional finance with the digital currency world. However, its associations with illicit activities and concerns about transparency may pose systemic risks.

The Senate Commerce Committee plans a hearing on nominee Howard Lutnick, chosen by Trump to lead the Commerce Department amid U.S.-China tech tensions. Lutnick, a Wall Street CEO, will oversee trade strategies and divest business holdings upon confirmation.

Cantor Fitzgerald LP Chief Executive Officer Howard Lutnick settled a lawsuit over his $50 million bonus tied to Newmark Group Inc. days before he is set to appear in front of the US Senate for a confirmation hearing to run the Commerce Department.

The Senate Commerce Committee said on Wednesday it would hold a Jan. 29 hearing on President Donald Trump's nominee to lead the Commerce Department, the agency that has become a key U.S. tool in its efforts to constrain China's tech sector.

President Donald Trump previously criticized the CHIPS and Science Act, leading to speculation over whether the law could be repealed or tweaked under the new administration.

Momentum is growing among President Trump’s advisers to place 25 per cent tariffs on Mexico and Canada as soon as Saturday, bucking conventional wisdom in Washington and on Wall Street that he would back off the threatened levies as he has in the past in exchange for concessions.

At close: January 23 at 4:00:02 PM EST