By USA Goldmines 
The chair of the brokerage company Cantor Fitzgerald is reportedly creating a consortium with SoftBank, Tether and Bitfinex to take advantage of the booming crypto industry under US President Donald Trump.
Citing people familiar with the matter, the Financial Times reports that Brandon Lutnick, son of US Commerce Secretary Howard Lutnick, is joining hands with the three firms to create a multibillion-dollar Bitcoin (BTC) acquisition vehicle that aims to replicate the success of MicroStrategy, the largest corporate holder of the flagship cryptocurrency.
In January, the special purpose acquisition company called Cantor Equity Partners raised $200 million, which will be used to create a new firm called 21 Capital. The vehicle will also receive $3 billion worth of Bitcoin from the partners.
The stablecoin issuer Tether will contribute $1.5 billion in BTC while the Japanese multinational investment holding company Softbank and the crypto exchange Bitfinex will give $900 million and $600 million, respectively, of the crypto asset. Â The investments, valued at $85,000 per BTC, will be converted into shares in 21 Capital at $10 per share.
The vehicle also plans to raise a $350 million convertible bond and a $200 million private placement of equity to buy more Bitcoin.
The sources say the deal will likely be announced in the coming weeks, but caution that it may not push through, or the numbers could change.
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​ The chair of the brokerage company Cantor Fitzgerald is reportedly creating a consortium with SoftBank, Tether and Bitfinex to take advantage of the booming crypto industry under US President Donald Trump. Citing people familiar with the matter, the Financial Times reports that Brandon Lutnick, son of US Commerce Secretary Howard Lutnick, is joining hands with
The post Chair of Cantor Fitzgerald Teams Up With Tether, SoftBank and Bitfinex To Form Bitcoin Acquisition Firm: Report appeared first on The Daily Hodl. Bitcoin, BTC, NewsÂ
This articles is written by : Nermeen Nabil Khear Abdelmalak
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