The U.S. Commerce Secretary purchases shares in companies that could benefit from tariffs

On Tuesday, the Trump administration announced it would extend the extension of tariffs on China. The unpredictability of Trump's trade tariffs has raised concerns among national trade groups such as the National Foreign Trade Council (NFTC), which say Trump's trade tariffs "are slowing growth, disrupting operations, and raising legal concerns for businesses." Amid this uncertainty, officials associated with the Trump administration have deepened ties with cryptocurrencies and businesses affected by his trade policies.
Recent filings by the Securities Exchange Commission show that U.S. Commerce Secretary Howard Lutnik, through his family-controlled firm, Cantor Fitzgerald, has been actively investing in or divesting from industries affected by Trump's economic policies. According to an Aug. 14 filing with the Securities Exchange Commission and subsequent analysis by Quiver Quantitative, Cantor Fitzgerald has invested in Fidelity Wise Origin Bitcoin Fund (FTBC) as well as shares in chip makers AMD, Tesla, Alibaba, and Robinhood.
Cantor's investments in FTBC and trading platform Robinhood were $120.70 million and $116.80 million, respectively. Previously, Bo Hines, executive director of the President's Council of Advisors on Digital Assets, said in an interview with the White House in April that the administration could use tariffs to fund purchases of the newly formed strategic bitcoin reserve.