Editor's PiCK
Cantor Fitzgerald to Launch $3 Billion Crypto Venture with Tether and SoftBank
Summary
- Cantor Fitzgerald plans to establish a $3 billion cryptocurrency venture fund with SoftBank and Tether.
- Of this, Tether will contribute $1.5 billion, while SoftBank and Bitfinex will provide $900 million and $600 million, respectively.
- Brandon Lutnick is reportedly planning to purchase additional Bitcoin (BTC) through a $200 million private equity investment.
Cantor Fitzgerald, where Howard Lutnick served as CEO, is set to establish a large-scale cryptocurrency venture fund. Notably, influential companies in the industry such as Tether (USDT), SoftBank, and Bitfinex are reported to be involved in this venture.
According to the Financial Times on the 22nd (local time), Brandon Lutnick, CEO of Cantor Fitzgerald and son of Howard Lutnick, is pushing to establish a $3 billion cryptocurrency venture with Tether, SoftBank, and Bitfinex.
The company has already raised $200 million in January and plans to use it to establish a new company, 21 Capital, to manage the cryptocurrencies held by the partners.
In the establishment of the $3 billion venture, Tether will contribute the largest amount of $1.5 billion. SoftBank and Bitfinex will also contribute $900 million and $600 million worth of Bitcoin (BTC), respectively.
Additionally, Brandon Lutnick is reportedly planning to purchase additional Bitcoin through a $200 million private equity investment, separate from a $350 million convertible bond.
Cantor, SoftBank, Tether, and Bitfinex declined to comment or did not respond.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
