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After the news of Cantor Fitzgerald’s partnership with SoftBank and Tether, the shares of Cantor Equity Partners (CEP) saw a steep 134% increase.
Cantor, the legacy investment firm, is now foraying into Bitcoin by establishing a new venture called Twenty One Capital, which is expected to raise around $3B worth of $BTC from its partners.
This includes $1.5M from Tether, $900M from SoftBank, and $600M from Bitfinex. These figures were quoted at a valuation of $85K per $BTC, but the token has climbed since then, putting the total valuation at around $3.9B.
It’s worth noting that CEP is just a blank check company that will oversee and help the formation of Twenty One Capital, which will be a publicly traded entity.
Another Bitcoin fund is surely positive news for the OG crypto. Keep reading to find out its exact implications and which new crypto you can buy right now to benefit from a forthcoming $BTC push.
Cantor’s Crypto Interests
CEP is owned by Brandon Lutnick, son of Howard Lutnick, who had stepped down from the company to serve as the US Secretary of Commerce.
As per a recent announcement, Jack Mallers would be the CEO of Twenty One Capital. The investment vehicle is expected to raise $385M in convertible seniors and another $200M through private investment in equity.
Cantor Fitzgerald credits this fast-paced love affair with $BTC to the pro-crypto Trump administration, which has brought in various favorable regulations in its bid to make crypto mainstream in the country.
Switzerland Pushes for a Bitcoin…
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