Brandon Lutnick, Chairman of Cantor Fitzgerald, Teams Up With Tether, Softbank for $ 3B Bitcoin Spac
Brandon Lutnick, son of US commercial secretary Howard Lutnick and chairman of Cantor Fitzgerald, is launching a listed Bitcoin investment vehicle supported by Softbank, Tether, and Bitfinex, The financial times were first reported.
The Special Purpose Acquisition Company (SPAC), called the Cantor Equity Partners, raised $ 200 million in January and will help build a new firm, 21 capital, with $ 3 billion in Bitcoin (BTC) from crypto heavyweights. The deal reflects Microstrategy’s Bitcoin Proxy Model and can convert BTC to equity with an appreciation of $ 85,000 per coin.
Cantor Fitzgerald is one of Tether’s careersholding most of the US treasures. Howard Lutnick, however, has softened his stance With Tether’s liquidity while testifying in front of the Senate after the first to say that the Stablecoin issuer could account for every dollar.
Tether and Bitfinex contribute $ 1.5 billion and $ 600 million, respectively, while Softbank adds $ 900 million. Adventure plans to raise another $ 550 million through bonds and private equity to buy more BTC.
The spac arrives amidst crypto -updated optimism under the Trump administration, with Bitcoin hovering near $ 92,000 and regulatory shifts. The deal is expected to announce in the coming weeks, but it can still change, according to FT.
