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Cantor Equity Partners (CEP) disclosed a $458.7 cardinal bitcoin BTC acquisition arsenic portion of a pending merger with Twenty One Capital, the BTC-focused concern conveyance backed by Tether, Bitfinex, and SoftBank, according to a regulatory filing connected Tuesday.
The transaction is structured done a analyzable concern operation involving Tether Investments, the El Salvador affiliate of stablecoin issuer Tether, and iFinex, the genitor institution of Bitfinex, the filing shows. As portion of the deal, Tether purchased immoderate 4,812 BTC astatine an mean terms of $95,319, with the tokens held successful escrow and aboriginal to beryllium sold to the merged company.
Blockchain information shows that the escrow wallet, disclosed successful the filing, received the tokens from a Bitfinex blistery wallet connected May 9. The wallet's bitcoin holdings are worthy $500 cardinal astatine existent prices, according to Arkham data.
Twenty One Capital is being launched by Brandon Lutnick—the lad of U.S. Commerce Secretary and Cantor Fitzgerald president Howard Lutnick—via a SPAC operation utilizing Cantor Equity Partners. The institution volition beryllium led by Strike CEO Jack Mallers and majority-owned by Tether and Bitfinex’s genitor company, iFinex. SoftBank volition instrumentality a important number stake, the companies said
The institution said it plans to person much than 42,000 BTC astatine launch.
CEP shares are higher by 3.7% successful aft hours trading.
Read more: Strike CEO Mallers to Lead Bitcoin Investment Company Backed by Tether, Softbank, Brandon Lutnick
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