Brandon Lutnick, chair of investment banking firm Cantor Fitzgerald, is reportedly partnering with SoftBank, Tether, and Bitfinex to create a $3 billion crypto acquisition company. Lutnick and the consortium aim to establish a publicly listed crypto acquisition company under the crypto-friendly US President Donald Trump’s administration, following the success of Michael Saylor’s company Strategy, as reported by the Financial Times on April 23. Cantor Equity Partners raised $200 million in January for the new firm named 21 Capital. Tether will invest $1.5 billion in Bitcoin (BTC), Softbank Group will contribute $900 million, and Bitfinex will add $600 million. Lutnick’s venture plans to raise an additional $350 million in convertible bonds and $200 million in private equity placement to purchase more Bitcoin. Tether, Bitfinex, and SoftBank’s Bitcoin investments will be converted into 21 Capital shares, with the Bitcoin value locked in at $85,000 per coin and shares priced at $10 each. However, the deal is subject to finalization, and details may change before official announcement. Cantor Fitzgerald, SoftBank, Tether, and Bitfinex did not immediately respond to Cointelegraph’s request for comment. Cantor Fitzgerald has a track record of managing Tether’s Treasury portfolio and reserves, owning a 5% stake in the stablecoin issuer and advising on previous investments. The firm recently announced a Bitcoin financing business with $2 billion in initial capital to assist institutional investors in borrowing against their crypto holdings, partnering with Anchorage Digital and Copper as custodians. Cantor Fitzgerald currently holds over $5 billion in assets across 275 total holdings, according to Fintel data.<\/p>\n","protected":false},"excerpt":{"rendered":"
Brandon Lutnick, chair of investment banking firm Cantor Fitzgerald, is reportedly partnering with SoftBank, Tether, and Bitfinex to create a $3 billion crypto acquisition company. Lutnick and the consortium aim to establish a publicly listed crypto acquisition company under the crypto-friendly US President Donald Trump’s administration, following the success of Michael Saylor’s company Strategy, as […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/106118"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=106118"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/106118\/revisions"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=106118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=106118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=106118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}