Reports on Feasible$ 3B Bitcoin Deals Between Cantor and SoftBank, Tether, and Bitfinex

The reported on Tuesday that Brandon Lutnick, the son of U.S. Commerce Secretary Howard Lutnick, is working with SoftBank, Tether, and Bitfinex to create a multibillion-dollar Bitcoin consolidation vehicle.

According to three people briefed on the matter, according to the Financial Times, the new venture, called 21 Capital, will receive$ 1.5 billion from Tether,$ 900 million from SoftBank, and$ 600 million from Bitfinex.

has reached out to Tether, SoftBank, Bitfinex, and Cantor Fitzgerald regarding the issue, but they were unable to provide an instant answer.

The offer is anticipated to be announced in the coming weeks, but it may never materialize, and the figures are still subject to change, according to the report.

The venture may be conducted through Cantor Equity Partners, a special-purpose acquisition firm that raised$ 200 million in January of this year and will act as 21 Capital’s launch pad.

Cantor’s ventures into crypto following important decisions it has made in the last year.

Ideas for a separate$ 2 billion Bitcoin financing program, which will be launched by Cantor Fitzgerald with Tether, first emerged in November of last year.

Cantor announced in March of this year that it would apply Anchorage Digital and Copper’s crypto programs.

The moves even coincide with the appointment of Howard Lutnick, who spent more than 40 years working for Cantor, as Commerce Secretary in November.

The consortium hopes to establish a publicly traded alternative to MicroStrategy, which has since switched to Bitcoin investing and has grown to a$ 91 billion market cap.

Partners working with Cantor are scheduled to convert their Bitcoin investments into 21 Capital shares, which will be sold for$ 10 each, bringing the price per coin for a pair of Bitcoins to$ 85, 000.

The agreement comes as a result of the Trump administration’s more dovish stance toward crypto investing.

Following Trump’s win in the election, Bitcoin’s price reached a peak of about$ 106, 000 earlier this year. The property has since recovered to$ 93, 100 at the time of writing, compared to$ 79, 000 when it had fallen to$ 93, 000.

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