Cantor Fitzgerald, led by the son of the U.S. Secretary of Commerce, will reach a Bitcoin acquisition agreement of about $4 billion with the founder of Blockstream Capital

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On July 16, the Financial Times reported, citing two informed sources, that Cantor Equity Partners 1, a SPAC entity under the Wall Street investment bank Cantor Fitzgerald led by Brandon, the son of U.S. Secretary of Commerce Howard Lutnick, will acquire 30,000 BTC from Adam Back, the founder of Blockstream Capital. The agreement also includes raising up to $800 million in external capital for additional Bitcoin purchases, bringing the total transaction value to over $4 billion.

Previously, Cantor Fitzgerald reached an agreement in April to establish a SPAC-backed Bitcoin fund called Twenty One, with plans to raise $3.9 billion, supported by Tether, Bitfinex, and SoftBank.

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