The Securities and Exchange Commission (SEC) announced that Cantor Fitzgerald, the primary custodian of Tether's assets, has agreed to pay a $6.75 million fine for making misleading statements to investors in connection with two SPAC programs. The two SPAC programs had previously raised a total of $750 million. Sanjay Wadhwa, acting head of the SEC's Division of Enforcement, noted that Cantor Fitzgerald had repeatedly denied reaching out to merger and acquisition targets in its public filings, when in fact it had been in substantive merger and acquisition talks with a number of private companies.