Cantor Fitzgerald to Launch $3 Billion Bitcoin Acquisition Vehicle
- Cantor Fitzgerald is preparing to launch a $3 billion Bitcoin SPAC, supported by SoftBank, Bitfinex, and Tether.
- Tether will contribute $1.5 billion in Bitcoin, SoftBank will invest $900 million, and Bitfinex will add $600 million.
- The venture will be managed by Cantor Equities Partners under a new entity named 21 Capital.
- Brandon Lutnick, son of Commerce Secretary Howard Lutnick, will lead the initiative.
- Bitcoin’s price increased to a two-week high of $93,000 following the announcement.
Cantor Fitzgerald’s new Bitcoin acquisition vehicle aims to pool resources from major industry players such as Tether and SoftBank. The initiative is expected to be led by Brandon Lutnick under the newly formed entity 21 Capital.
Source (2.6)https://coingape.com/cantor-partners-with-tether-softbank-bitfinex-for-3-billion-bitcoin-bet/?rand=24432
