Cantor, SoftBank, Tether in Talks for $3 Billion Bitcoin Vehicle Twenty One Capital

Hifi Tech India

Cantor Fitzgerald LP is in advanced talks with SoftBank Group Corp., Tether Holdings Ltd. and crypto exchange Bitfinex to form a bitcoin investment vehicle that would deploy about $3 billion, according to reports from the Financial Times and Reuters.

The proposed special‑purpose acquisition company, tentatively named Twenty One Capital, would launch with roughly 42,000 bitcoin. Funding details cited in the reports indicate Tether will contribute about $1.5 billion in bitcoin, SoftBank $900 million and Bitfinex $600 million. The consortium earlier raised $200 million in cash and is seeking at least $550 million more to expand its purchasing capacity.

Brandon Lutnick—identified as the son of U.S. Commerce Secretary Howard Lutnick and current chair of Cantor Fitzgerald—is leading the effort, while digital‑payments entrepreneur Jack Mallers is expected to serve as chief executive. The backers aim to emulate MicroStrategy’s strategy by listing a company whose primary asset is bitcoin, with an indicated $10‑a‑share valuation that implies a bitcoin price of about $85,000.

If completed, Twenty One Capital would rank among the world’s largest corporate holders of bitcoin at the outset, trailing only a handful of listed treasuries. The parties have not disclosed a timetable for closing the transaction, and formal public statements on the venture’s final terms are still pending