Crypto Mega-Deal: Lutnick Heir Unites Tether, Bitfinex, and SoftBank for Bitcoin Bet
Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick, is preparing to launch one of the largest institutional crypto vehicles to date—a $3 billion SPAC powered by bitcoin and supported by Tether, Bitfinex, and SoftBank, according to Financial Times.
Operating under the name Cantor Equity Partners, the SPAC raised $200 million in Q1 and will seed a new firm called 21 Capital with direct bitcoin exposure. The venture will treat bitcoin as its core asset and convert it into equity at a benchmark of $85,000 per coin.
The bitcoin backing includes $1.5 billion from Tether, $600 million from Bitfinex, and $900 million from SoftBank. The remaining $550 million is expected to be raised through financial instruments to deepen BTC reserves.
The initiative lands as crypto markets surge and Trump-era deregulation revives investor appetite. Cantor Fitzgerald, known for safeguarding Tether’s treasuries, gives the project a deep TradFi backbone.
Though the final structure is still being fine-tuned, sources close to the matter suggest the announcement is imminent. The move could redefine how institutional capital enters the crypto space.
