Cantor Fitzgerald SPAC to Reach $4 Billion Bitcoin Deal with Adam Back

On July 16, according to the Financial Times, a special purpose acquisition company (SPAC) backed by Cantor Fitzgerald is in late-stage talks with Adam Back, a developer cited in the Bitcoin whitepaper, to purchase $30-40 billion worth of Bitcoin. This deal would follow Cantor's first Bitcoin financing deal with Maple Finance and FalconX completed on May 27. It is worth noting that Brandon Lutnick, the current chairman of Cantor Fitzgerald, is the son of U.S. Secretary of Commerce Howard Lutnick, who has publicly supported Bitcoin. [TechFlow]