Cantor Fitzgerald’s Brandon Lutnick Nears $3 Billion Bitcoin Venture with SoftBank, Tether, and Bitfinex via 21 Capital

Cantor Fitzgerald, led by Brandon Lutnick, is nearing a $3 billion cryptocurrency venture with SoftBank, Tether, and Bitfinex, according to the Financial Times. The initiative involves creating a special purpose acquisition company (SPAC) named Cantor Equity Partners, which raised $200 million in January to establish a new firm, 21 Capital. Brandon Lutnick is the son of Howard Lutnick, the U.S. Commerce Secretary. 21 Capital is set to receive $3 billion in Bitcoin from its partners, with Tether contributing $1.5 billion, SoftBank $900 million, and Bitfinex $600 million. The venture aims to replicate the success of MicroStrategy, which has become a significant player in the Bitcoin market under the Trump administration’s more favorable policy on digital currency. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant