SoftBank grasps the riskiest end of crypto mania — TradingView News
Boss Masayoshi Son’s latest longshot is a $3.6 bln Cantor Fitzgerald shell-company deal, Twenty One. The plan is to mint a bitcoin hoarder like $90 bln MicroStrategy. It’ll work if it fetches the same inexplicable premium, but a bizarre structure and SPAC taint worsen the odds.
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CONTEXT NEWS
A consortium including SoftBank on April 23 joined hands with a blank-check firm backed by boutique bank Cantor Fitzgerald to launch a bitcoin investment vehicle, Twenty One Capital.
Twenty One will receive bitcoin contributed by stablecoin giant Tether and cryptocurrency exchange Bitfinex. It expects to launch with more than 42,000 bitcoins in a deal valuing the crypto venture at $3.6…
