Financial firm Cantor Fitzgerald intends to establish a $3 billion investment fund for bitcoin ventures. The project involves SoftBank, Tether, and Bitfinex, as reported by the Financial Times (FT), citing its own sources.
To implement this initiative, the partners will launch a company named 21 Capital. The project’s aim is to create a “public alternative” to the investment strategy of Strategy.
According to FT, Tether will provide $1.5 billion in bitcoin, SoftBank $900 million, and Bitfinex $600 million.
In return, the partners will receive a stake in 21 Capital: assets will be converted into company shares at a rate of $10 each, with a valuation of $85,000 per BTC.
Additionally, Cantor will raise $350 million through convertible bonds and $200 million from private investments to purchase digital gold.
FT reports that an official announcement of the deal is expected in the coming weeks. However, the terms of the agreement may change.
Earlier, Brandon Lutnick, son of former company head Howard Lutnick, became the chairman and CEO of Cantor. Howard Lutnick took the position of U.S. Secretary of Commerce this year.
Back in 2024, the financial company acquired a 5% stake in Tether for $600 million.