Commerce Secretary’s Son, Tether, and SoftBank Launch $3B Bitcoin SPAC—Because What Crypto Needs Is More Financial Engineering

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CoindeskEN

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2025-04-23 05:30:56

U.S. Commerce Secretary Lutnick’s Son Teams Up With Tether, SoftBank for $3B Bitcoin SPAC: FT

In a move that’ll surprise exactly no one in crypto’s incestuous finance circles, the son of U.S. Commerce Secretary Lutnick is rolling out a $3 billion Bitcoin SPAC—backed by Tether’s opaque reserves and SoftBank’s infamous hype machine. Because when traditional markets aren’t speculative enough, why not add a dash of SPAC magic?

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