Cantor joins hand with SoftBank, Tether for $3.6 billion crypto venture

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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…



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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…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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