Cantor joins hand with SoftBank, Tether for $3.6 billion crypto venture
Cantor Fitzgerald is launching a crypto venture with Tether and Japanese technology investor SoftBank Group to buy bitcoin, underscoring rising institutional adoption of the once-nascent asset class.
The deal, announced on Wednesday, with blank-check vehicle Cantor Equity Partners values the venture, Twenty One Capital, at $3.6 billion.
It will deepen ties between the Wall Street brokerage – chaired by Brandon Lutnick, the son of the former Cantor boss and current U.S. commerce secretary – and Tether, the company behind the world’s largest stablecoin.
Twenty One will offer investors access to an investment vehicle for exposure to the world’s largest cryptocurrency and expects to launch with more than 42,000 bitcoins.
That would make…
