Brandon Lutnick, chair of banking banking firm Cantor Fitzgerald, has been reported working with Softbank, Tether and Bitfinex to create a $ 3 billion crypto capture company.
Lutnick and the Consortium expect to create a company listed in public crypto acquisition to achieve the market under US president Donald Trump, and replicate Michael Saylor’s Company approach, The Financial Times reported On April 23, three people mentioned the plan.
The Cantor Equity Partners raised $ 200 million in January for a new firm called 21 capital. At the same time, Stablecoin issuer Tether will get $ 1.5 billion in Bitcoin (Btc), The Japanese Investment Holding Firm Softbank Group will contribute $ 900 million, and the Crypto Exchange Bitfinex will add $ 600 million.
Lutnick’s new adventure expects to raise another $ 350 million in the ever -changing bonds and a separate $ 200 million private putting equity to Buy additional bitcoin.
Eventually, Tether, Bitfinex, and Softbank’s bitcoin investment will be converted to 21 capital shares, with the value of Bitcoin locked at $ 85,000 per coin and sharing $ 10 a pop.
However, the deal has not been completed, and some details may change before it is officially announced. Brandon Lutnick was named Chair of Cantor Fitzgerald when his father Howard Lutnick, Dropped to become a US commercial secretary.
Cantor Fitzgerald, Softbank, Tether and Bitfinex did not immediately respond to Cointelegraph’s request for comment.
Cantor is well trained in the crypto market
Cantor Fitzgerald has Managed Tether’s Treasury’s Portfolio and $ 134 billion of reserves, mainly in Treasury bills, since 2021. The firm has also shared a 5% stake in stablecoin issuer.
In the past, Cantor acted in a paper advising for Tether’s $ 775 million investment on the YouTube alternative rumble in December last year.
Related: Commercial secretary Lutnick walks back to the Tariff Relief in Electronics
Meanwhile, on March 11, Cantor Fitzgerald said this is rolling in a Bitcoin financing business with $ 2 billion in initial capital to help institutional investors borrow against their crypto holders. The anchorage digital and copper are selected as Bitcoin caregivers and collateral managers.
Cantor Fitzgerald is currently holding more than $ 5 billion worth of properties in full 275 total handling, According to in Fintel data.
Magazine: XRP Win leaves ripple and industry without crypto legal previously set
