Cantor Fitzgerald Launches $3 Billion Bitcoin Venture with Tether, SoftBank and Bitfinex

Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick and chair of brokerage Cantor Fitzgerald, has announced a multi-billion dollar venture focused on Bitcoin investment. The firm has partnered with crypto giants Tether, SoftBank, and Bitfinex to launch 21 Capital, a specialized acquisition vehicle backed by $3 billion in Bitcoin. The firm plans to raise additional funds through a $350 million convertible bond and a $200 million private equity placement. 21 Capital will utilize these contributions to purchase shares of Bitcoin at a price of $85,000 per coin.