Brandon Lutnick Launches $3 Billion Bitcoin Firm with SoftBank, Tether, and Bitfinex Backing

Cantor Fitzgerald Chair Brandon Lutnick has launched a $3 billion Bitcoin investment firm called 21 Capital. This venture is backed by SoftBank, Tether, and Bitfinex, according to the Financial Times. The company will use a special purpose acquisition company (SPAC), Cantor Equity Partners, to facilitate the funding. The SPAC raised $200 million at the start of the year, with an additional $3 billion in Bitcoin from the crypto giants. 21 Capital aims to raise over $500 million more in debt financing and private equity to acquire even more Bitcoin.