Cantor, SoftBank, Tether in Talks for $3 Billion Bitcoin Vehicle Twenty One Capital

Cantor Fitzgerald LP is in advanced talks with SoftBank Group Corp., Tether Holdings Ltd. and crypto exchange Bitfinex to form a bitcoin investment vehicle that would deploy about $3 billion, according to reports from the Financial Times and Reuters. The proposed special‑purpose acquisition company, tentatively named Twenty One Capital, would launch with roughly 42,000 bitcoin. Funding details cited in the reports indicate Tether will contribute about $1.5 billion in bitcoin, SoftBank $900 million and Bitfinex $600 million. The consortium earlier raised $200 million in cash and is seeking at least $550 million more to expand its purchasing capacity. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant