In what can only be described as a “Who’s Who” of the crypto world, Cantor Fitzgerald is teaming up with Tether, Bitfinex, and SoftBank to create a massive $3 billion Bitcoin investment vehicle. Hold onto your wallets, folks. 🤑
According to a recent report from the Financial Times (yes, that Financial Times, no big deal), the group is launching a brand-new publicly traded company, “21 Capital.” This firm will receive a cool $3 billion in Bitcoin (BTC) from these crypto giants. Here’s the breakdown: Tether is putting up $1.5 billion, SoftBank is throwing in $900 million, and Bitfinex is chipping in a modest $600 million. Hey, we’ve all got to start somewhere, right? 💸
But wait, there’s more! (You knew this was coming.) They’re also raising a $350 million convertible bond and an extra $200 million in private equity to buy even more Bitcoin. The goal? To create an investment vehicle that tracks Bitcoin’s performance through direct holdings. It’s like a crypto-focused version of a rollercoaster—without the seatbelt. 🎢
Meanwhile, the folks over at Strategy have been busy accumulating over 530,000 BTC for a whopping $36.4 billion, despite their share price dropping 20% from the November highs. It’s fine. Totally fine. The market’s just “taking a nap,” okay? 😴
The mastermind behind this operation is Brandon Lutnick, who just so happens to be the newly appointed chair of Cantor Fitzgerald and the son of U.S. Commerce Secretary Howard Lutnick. No big deal. 🙄 Brandon’s goal is to place 21 Capital right at the center of what the backers believe will be a crypto bull market resurgence under the Trump administration. You know, the kind of market that makes you want to buy a yacht with your Bitcoin profits. ⛵
As for the deal itself, contributing firms will get equity in 21 Capital, which is being valued with Bitcoin at a solid $85,000 per coin. Is that going to change? Probably. But don’t worry, the big announcement is just weeks away, according to some very “familiar” sources. ✨
Now, this isn’t Cantor Fitzgerald’s first rodeo with Tether. They’ve already worked closely on Tether’s $775 million investment in Rumble (you know, the video platform). And while Tether and Bitfinex have had their little run-ins with regulators in the past, the Trump administration’s friendlier crypto stance is making this venture look like it’s got a green light. 🟢
And last but certainly not least, Paul Atkins—the new SEC chairman with a serious soft spot for crypto—is expected to speed up regulatory clarity. You know, the kind of clarity that makes you want to jump into the crypto pool with both feet. 🏊♂️
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2025-04-23 07:29