SoftBank, Tether, and Bitfinex Rope in Brandon Lutnick for $3B Crypto Shopping Spree

Wall Street’s latest crypto gold rush just got a new prospector. Brandon Lutnick joins SoftBank’s moonshot bet alongside stablecoin giant Tether and exchange Bitfinex—because nothing says ’measured investment’ like throwing billions at unregulated digital assets. The trio aims to carve up the market with acquisitions, because if there’s one thing crypto needs, it’s more consolidation among the usual suspects. Watch the dominoes fall—or the house of cards collapse.

Turning Bitcoin Accumulation Into Market Success

The strategy mirrors the high-profile success of MicroStrategy, which transformed itself from a software firm into a major player in crypto markets by aggressively accumulating bitcoin.

Today, MicroStrategy holds tens of billions of dollars in BTC. It boasts a $91 billion market capitalization, driven by its bold crypto pivot.

Lutnick’s venture, dubbed Cantor Equity Partners, raised $200 million in January to kickstart the formation of a new entity called 21 Capital. This firm is set to receive $3 billion in bitcoin contributions—$1.5 billion from Tether, $900 million from SoftBank, and $600 million from Bitfinex.

Tether and Bitfinex, both owned by the same parent company, are known for their influential yet often controversial roles within the crypto ecosystem.

There’s a new @saylor in town

Takeaways from this announcement:

TLDR: Brandon Lutnick, son of US Commerce Secretary Howard Lutnick, and his firm Cantor is partnering with Softbank, Tether, and Bitfinex to create a multi-billion dollar SPAC for buying BTC.

1. USDC has… pic.twitter.com/54jked3npb

— robbie (@robbie_rollup) April 23, 2025

In addition to partner contributions, Cantor Equity Partners plans to raise a $350 million convertible bond and secure a $200 million private equity placement to further expand its bitcoin holdings.

The long-term goal is to convert these bitcoin investments into shares of 21 Capital at a valuation of $85,000 per BTC, with shares priced at $10 each.

While the deal is expected to be officially announced in the coming weeks, insiders caution that details remain subject to change, and the agreement could still fall through.

Tether And Bitfinex Set To Leverage Trump’s Crypto-Friendly Regulatory Shift

This ambitious move comes as the Trump administration signals a more crypto-friendly regulatory environment. Tether and Bitfinex, despite past regulatory settlements with New York authorities and the CFTC in 2021, appear poised to capitalize on this shift.

Bitcoin itself has seen dramatic price action. It peaked at $106,000 shortly after Trump’s election victory. Furthermore, it stabilized NEAR $92,000—close to its all-time highs.

Meanwhile, MicroStrategy has experienced a 20% decline from its November peak.  

The partnership marks just the beginning of a broader SPAC push by Cantor Fitzgerald. Beyond Cantor Equity Partners, two additional SPACs led by Brandon Lutnick are actively seeking deals, with the brokerage also underwriting several third-party SPACs in recent months.

Key Takeaways

• Brandon Lutnick is leading a $3 billion bitcoin acquisition venture with SoftBank, Tether, and Bitfinex.
• The initiative aims to replicate MicroStrategy’s crypto success through a SPAC-backed entity called 21 Capital.
• The move comes amid a pro-crypto stance from the Trump administration and rising Bitcoin market momentum.