Chair of Cantor Fitzgerald Teams Up With Tether, SoftBank and Bitfinex To Form Bitcoin Acquisition Firm: Report
The seat of brokerage company Cantor Fitzgerald has reportedly created a consortium with Softbank, Tether and Bitfinex to take advantage of the emerging crypto industry under US president Donald Trump.
Mentioned people familiar with this matter, the Financial Times Report Brandon Lutnick, son of US Commercial Secretary Howard Lutnick, is in contact with three companies to create a multibillion-dollar Bitcoin (BTC) acquisition vehicle aimed at copying the success of microstrategy, the largest corporation holder of the flagship.
In January, the special objective company called Cantor Equity Partners raised $ 200 million, which would be used to create a new firm called 21 capital. The vehicle will also receive $ 3 billion worth of bitcoin from partners.
Stablecoin Issuer Tether will contribute $ 1.5 billion to BTC while the Japanese Multinational Investment Holding Company softbank and the Crypto Exchange Bitfinex will provide $ 900 million and $ 600 million, respectively, by the Crypto asset. Investments, worth $ 85,000 per BTC, will be converted to sharing at 21 capital to $ 10 per part.
The vehicle also plans to raise a $ 350 million to change bond and a $ 200 million private equity to buy more bitcoin.
Resources say the deal is likely to be announced in the coming weeks, but it is cautious that it cannot be pushed, or the numbers may change.
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