U.S. Commerce Secretary's Son-Led Cantor Fitzgerald to Sign ~$4 Billion Bitcoin Acquisition Deal with Blockstream Capital Founder

July 16th, The Financial Times reported, citing two sources, that Cantor Equity Partners 1, a SPAC entity led by Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick and under the Wall Street investment bank Cantor Fitzgerald, will acquire 30,000 $BTC from Blockstream Capital founder Adam Back. The agreement also includes raising up to $8 billion in external capital for additional Bitcoin purchases, bringing the total value of the transaction to over $4 billion.

Prior to this, Cantor Fitzgerald reached an agreement in April to establish a SPAC-backed Bitcoin fund company named Twenty One, planning to raise $3.9 billion in funding backed by Tether, Bitfinex, and SoftBank.