Cantor Fitzgerald Launches $3.6 Billion Crypto Venture with SoftBank and Tether
Cantor Fitzgerald is joining forces with Japanese technology investor SoftBank Group and Tether, the company behind the world’s largest stablecoin, to launch a $3.6 billion crypto venture. The new entity, Twenty One Capital, will focus on buying bitcoin, signaling a significant increase in institutional adoption of the cryptocurrency.
The deal, announced on Wednesday, values Twenty One Capital at $3.6 billion through Cantor Equity Partners, a blank-check vehicle. This partnership will strengthen ties between Cantor Fitzgerald, a Wall Street brokerage chaired by Brandon Lutnick, and Tether. Lutnick is the son of the former Cantor boss and current U.S. Commerce Secretary.
The venture underscores the growing institutional interest in cryptocurrency as a viable asset class. It brings together major players from Wall Street and the tech industry, combining their expertise in financial services and technology investment.
As the cryptocurrency market continues to mature, such large-scale investments are likely to play a crucial role in shaping its future. The involvement of established financial institutions like Cantor Fitzgerald and SoftBank Group may help bring more stability and legitimacy to the crypto space.
This development comes as the financial world watches the evolving landscape of digital assets and their integration into traditional financial systems. The $3.6 billion valuation of Twenty One Capital highlights the significant scale of investment flowing into cryptocurrency ventures.
The Economic Times reported on this deal, emphasizing its importance in the context of rising institutional adoption of cryptocurrencies. As the crypto market continues to evolve, partnerships like this are likely to be closely watched by investors and industry observers alike.
