Cantor plans $3B crypto venture with SoftBank, Bitfinex and Tether: Report
Brandon Lutnick, chair of Cantor Fitzgerald, is collaborating with SoftBank, Tether, and Bitfinex to establish a $3 billion crypto acquisition company named 21 Capital. The consortium aims to create a publicly listed entity to leverage favorable market conditions under President Donald Trump, emulating Michael Saylor’s strategy. Cantor Equity Partners raised $200 million for 21 Capital, with Tether contributing $1.5 billion in Bitcoin, SoftBank $900 million, and Bitfinex $600 million. The venture plans to raise an additional $350 million in convertible bonds and $200 million in private equity for further Bitcoin purchases. Investments will convert into 21 Capital shares, pegged at $85,000 per Bitcoin and priced at $10 per share. The deal remains unfinalized, with potential changes before the official announcement. Cantor Fitzgerald has managed Tether’s Treasury portfolio since 2021 and holds a 5% stake in Tether. The firm is also launching a Bitcoin financing business with $2 billion in capital to assist institutional investors.
