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Cantor Fitzgerald, in collaboration with Tether and SoftBank Group, is reportedly preparing to back a $3 billion bitcoin acquisition initiative, according to sources cited by the Financial Times.
The initiative, coming amid renewed political momentum for digital assets in the U.S., would mark one of the largest recent attempts to capitalize on shifting crypto sentiment.
The project will be led by Brandon Lutnick, chair of Cantor Equity Partners I (NASDAQ: CEPO), a special purpose acquisition company (SPAC) that raised $200 million earlier this year. Lutnick is the son of Howard Lutnick, current CEO of Cantor Fitzgerald and U.S. Commerce Secretary under President Donald Trump.
According to the report, the $3 billion in bitcoin will be allocated to a new entity named 21 Capital. The contributions are expected to come from several major players in the crypto and investment space:
- Tether will reportedly provide $1.5 billion in bitcoin
- SoftBank will add $900 million
- Bitfinex, affiliated with Tether, will contribute $600 million
While the venture has yet to be formally announced, sources suggest the details may be finalized in the coming weeks. The deal remains subject to change, and the Financial Times noted that discussions could still fall apart.
CEPO’s shares rose 6% in premarket trading Wednesday following the news.
The involvement of traditional finance entities like Cantor Fitzgerald alongside digital asset giants signals a continued convergence between institutional finance and cryptocurrency markets.
