Howard Lutnick, the wealthy financier President Trump has tapped to lead the Commerce Department, is stepping into the spotlight Wednesday as he faces a Senate nomination hearing. The focus? His sprawling financial interests and whether they could clash with his role in government.

Lutnick, the CEO and chairman of Wall Street giant Cantor Fitzgerald, also holds top roles at BGC and Newmark Group, a commercial real estate firm. While he’s promised to step down from these positions if confirmed, his financial disclosures reveal a far-reaching portfolio. He’s held executive roles in over 800 companies and owns assets worth at least $800 million.

For Trump and his supporters, Lutnick’s business acumen makes him an ideal choice to steer the Commerce Department. Over the past year, he’s served as a key economic adviser and played a central role in the administration’s transition team.

But Democrats aren’t convinced. They’re worried his vast financial ties could cloud his judgment and lead to conflicts of interest. In a letter to Lutnick, Senator Elizabeth Warren questioned his involvement with Cantor Fitzgerald’s investments in Tether, a cryptocurrency linked to criminal activity. She called the connection “deeply troubling” and raised doubts about his ability to prioritize public interest over personal gain.

As Commerce Secretary, Lutnick would oversee critical functions like promoting U.S. business internationally, regulating the tech sector, and managing subsidies for industries like semiconductors and broadband. Trump has also tasked him with leading the administration’s broader trade policy, including oversight of the U.S. Trade Representative.

Adding to the controversy, reports reveal Lutnick’s financial ties to the mining industry in Greenland through Cantor Fitzgerald. The brokerage has invested in Critical Metals Corp, a company planning to mine in Greenland by 2026. Trump has previously floated the idea of purchasing Greenland, though Denmark and Greenland’s governments have firmly rejected the notion.

As the hearing unfolds, all eyes will be on whether Lutnick can address these concerns and secure his path to becoming the next Commerce Secretary.