2 weeks ago
The Financial Times reports that Tether volition fork retired $1.5 billion, Softbank Group volition adhd $900 cardinal and Bitfinex volition enactment successful $600 cardinal to a caller crypto acquisition company, 21 Capital.
Brandon Lutnick, seat of concern banking steadfast Cantor Fitzgerald, is reportedly partnering with SoftBank, Tether and Bitfinex to make a $3 cardinal crypto acquisition company.
Lutnick and the consortium anticipation to make a publically listed crypto acquisition institution to capitalize connected the marketplace nether crypto-friendly US President Donald Trump, and replicate Michael Saylor’s institution Strategy, the Financial Times reported connected April 23, citing 3 radical who person been briefed connected the plan.
Cantor Equity Partners raised $200 cardinal successful January for the caller steadfast called 21 Capital. At the aforesaid time, stablecoin issuer Tether volition fork retired $1.5 cardinal successful Bitcoin (BTC), Japanese concern holding steadfast Softbank Group volition lend $900 million, and the crypto speech Bitfinex volition adhd $600 million.
Lutnick’s caller task hopes to rise different $350 cardinal successful convertible bonds and a abstracted $200 cardinal backstage equity placement to buy further Bitcoin.
Eventually, Tether, Bitfinex, and SoftBank’s Bitcoin investments volition beryllium converted into 21 Capital shares, with the worth of the Bitcoin locked successful astatine $85,000 per coin and shares costing $10 a pop.
However, the woody hasn’t been finalized yet, and immoderate details could alteration earlier it’s officially announced. Brandon Lutnick was named seat of Cantor Fitzgerald erstwhile his father, Howard Lutnick, stepped down to go the US Secretary of Commerce.
Brandon Lutnick was named seat of Cantor Fitzgerald erstwhile his father, Howard Lutnick (right), became the US Secretary of Commerce. Source: White HouseCantor Fitzgerald, SoftBank, Tether and Bitfinex didn’t instantly respond to Cointelegraph’s petition for comment.
Cantor already good versed successful crypto market
Cantor Fitzgerald has managed Tether’s Treasury portfolio and $134 cardinal of reserves, chiefly successful US Treasury bills, since 2021. The steadfast besides owns a 5% involvement successful the stablecoin issuer.
Previously, Cantor acted successful an advisory relation for Tether’s $775 cardinal investment successful YouTube alternate Rumble successful December past year.
Related: Commerce Secretary Lutnick walks backmost tariff alleviation connected electronics
Meanwhile, connected March 11, Cantor Fitzgerald said it was rolling retired a Bitcoin financing business with $2 cardinal successful archetypal superior to assistance organization investors get against their crypto holdings. Anchorage Digital and Copper were selected arsenic Bitcoin custodians and collateral managers.
Cantor Fitzgerald presently holds implicit $5 cardinal worthy of assets crossed 275 full holdings, according to Fintel data.
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