Cantor Fitzgerald LP, Tether Holdings Ltd., and SoftBank Group Corp. are in advanced discussions to launch a $3 billion investment vehicle aimed at absorbing large amounts of cryptocurrency, according to a source familiar with the matter.
The initiative would be anchored by Cantor Equity Partners I Inc., a special purpose acquisition company (SPAC) that raised $200 million in January. That capital will be used to create a new firm, while major contributions in Bitcoin are expected from the partnering firms. Tether, the world’s largest stablecoin issuer, plans to commit $1.5 billion worth of Bitcoin. Bitfinex, a crypto exchange affiliated with Tether, will add $600 million, and SoftBank intends to contribute $900 million.
An announcement could come within days, the source said, requesting anonymity due to the confidential nature of the talks. While the Financial Times first reported on the negotiations, representatives from SoftBank declined to comment, and Cantor, Tether, and Bitfinex did not respond to requests for comment.
This move mirrors the strategy pioneered by Michael Saylor’s MicroStrategy Inc., which transformed from a software company into one of the largest corporate holders of Bitcoin, now worth roughly $45 billion. Inspired by Saylor’s model, firms like Japan’s Metaplanet Inc. have followed suit, often financing crypto acquisitions through equity sales and convertible debt.
Tether has accelerated its private investments over the past year, diversifying into sectors ranging from agriculture to artificial intelligence and neuroscience. As of February, the company reported more than $7 billion in excess reserves, underscoring its financial clout in the digital asset ecosystem.
The venture also highlights deepening ties between Cantor and Tether. Cantor, which manages part of Tether’s reserves, holds a convertible bond issued by the stablecoin operator. Former Cantor CEO Howard Lutnick, now serving as U.S. Commerce Secretary under President Donald Trump, has played a key role in the firms’ relationship.
Brandon Lutnick, Howard’s son and current chairman of Cantor, is also CEO and chairman of the SPAC involved in the deal. He previously helped facilitate Tether’s $775 million investment in right-wing media platform Rumble Inc., according to Bloomberg.
The proposed partnership marks a significant convergence of traditional finance, crypto powerhouses, and venture capital in a bold bet on the future of digital assets.
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