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Brandon Lutnick, president of Wall Street concern slope Cantor Fitzgerald, is successful late-stage talks with aboriginal bitcoin proponent and Blockstream CEO Adam Back for a bitcoin treasury woody that could beryllium worthy implicit $3 billion, the Financial Times reported connected Wednesday.
According to the report, Lutnick’s blank cheque institution Cantor Equity Partners 1 would get 30,000 BTC (nearly $3.5 cardinal astatine existent prices) from Back. In return, Back would person equity successful the vehicle, which would beryllium renamed BSTR Holdings. The steadfast besides seeks to rise $800 cardinal extracurricular capital, the study said.
A last woody could beryllium announced wrong days, though presumption are inactive being negotiated, per the report.
The quality follows Cantor Fitzgerald's erstwhile bitcoin concern conveyance Twenty One Capital, which was backed by SoftBank, Tether and Bitfinex and headed by Jack Mallers, the CEO of bitcoin-focused payments app Strike. That's been portion of a caller inclination of turning publicly-traded companies into crypto treasury strategy plays, raising wealth from investors to acquires integer assets similar BTC, Ethereum's ether ETH oregon Solana's SOL SOL.
Back has personally backed respective bitcoin-focused companies this year, including Sweden’s H100 Group and France's Blockchain Group.
Read more: Bitcoin Treasury Firms Expand War Chests arsenic Global Adoption Rises
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