Brendon Lutnick, the new head of Cantor Fitzgerald, is preparing to launch a joint venture worth approximately $3 billion in bitcoin investments in partnership with SoftBank, Tether, and Bitfinex.
As part of the initiative, a new investment entity called "Cantor Equity Partners" will be established. This entity will allocate funds to create a new company named 21 Capital. According to sources, the distribution of bitcoin contributions for the project is expected to be as follows: Tether will invest approximately $1.5 billion, SoftBank will contribute $900 million, and Bitfinex will provide $600 million worth of bitcoin.
The Financial Times reports that the initiative is expected to be officially announced in the coming weeks. However, the deal has not been finalized yet, and the figures may still change.
Howard Lutnick, the former CEO of Cantor Fitzgerald, was recently appointed as the U.S. Secretary of Commerce. His son Brendon Lutnick has taken over as chairman of the company, while his other son, Kyle Lutnick, serves as vice chairman.
Donald Trump has expressed support for cryptocurrencies, stating that they could have a positive impact on the U.S. financial system. He has called himself the “crypto president” and pledged to further the development of the sector in the country.
As of now, Cantor, SoftBank, Tether, and Bitfinex have not responded to Reuters' requests for comment.
