Cantor Fitzgerald and SoftBank Launch Bitcoin Acquisition Vehicle
Cantor Equity Partners, led by Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick, is partnering with SoftBank, Tether, and Bitfinex to create a multibillion-dollar bitcoin acquisition vehicle, according to a Financial Times report. The new firm, called 21 Capital, will receive $3 billion in bitcoin from various cryptocurrency investors and trading firms.
The funding will be contributed as follows: Tether will provide $1.5 billion, SoftBank will contribute $900 million, and Bitfinex will add $600 million. The announcement is expected to be made in the coming weeks, although the deal is still subject to change or potential failure.
This development comes as Howard Lutnick, the billionaire former CEO of Cantor Fitzgerald, stepped down last month to lead President Donald Trump’s commerce department. His son Brandon Lutnick took over as chairman of the brokerage.
The move aligns with President Trump’s promise to be the “crypto president,” supporting cryptocurrency to improve the banking system and strengthen the U.S. dollar. Neither Cantor, SoftBank, Tether, nor Bitfinex immediately responded to Reuters’ requests for comment.
