Brandon Lutnick, Tether, SoftBank Back $3 Billion Bitcoin Venture

A new cryptocurrency investment push is underway, with Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick, partnering with crypto powerhouses Tether (CRYPTO: USDT), Bitfinex and Japanese investment giant SoftBank to launch a multibillion-dollar Bitcoin (CRYPTO: BTC)-focused venture.

What Happened: Quoting sources familiar with the initiative, the Financial Times reported on Tuesday that the group aims to create a massive Bitcoin acquisition vehicle modeled after the playbook of Strategy (NASDAQ:MSTR), the tech firm-turned-Bitcoin heavyweight.

Strategy gained widespread attention for turning its corporate reserves into a Bitcoin treasury strategy, eventually amassing a position worth tens of billions of dollars and reaching a public valuation north of $90 billion.

Lutnick's new venture, named 21 Capital, is being formed through Cantor Equity Partners, a special purpose acquisition company (SPAC) that raised $200 million earlier this year.

The plan is for 21 Capital to receive $3 billion in Bitcoin from its partners: Tether is expected to contribute $1.5 billion, SoftBank $900 million and Bitfinex $600 million.

To further increase its holdings, the group will raise an additional $550 million, $350 million via a convertible bond and another $200 million through a private equity placement.

All contributors are slated to receive shares in 21 Capital at a fixed price of $10 per share, valuing Bitcoin for this transaction at $85,000 per coin.

While the deal has yet to be finalized and details remain subject to change, sources say an official announcement may arrive in the coming weeks.

Also Read: XRP, Ethereum, Solana, Dogecoin Surge 10% On Bitcoin’s $94,000 Push: How High Can They Go?

Why It Matters: The move signals renewed institutional confidence in Bitcoin, coinciding with a more crypto-friendly posture from the Trump administration.

Under President Donald Trump, regulatory pressure on digital assets appears to be easing, creating an opening for large players to re-enter or expand in the sector.

Cantor Fitzgerald, chaired by Brandon Lutnick after his father assumed a government role, has already been active in crypto-aligned ventures, including advising Tether on its $775 million investment in video platform Rumble.

Bitcoin prices spiked to $106,000 following Trump's election victory, and though prices have since cooled, the asset remains elevated near $94,000.

Strategy shares, however, have dipped roughly 20% from their post-election highs.

This planned venture marks just the beginning of a broader SPAC strategy by Cantor Fitzgerald.

In addition to Cantor Equity Partners, two more Lutnick-led SPACs are reportedly in search of crypto-aligned deals. The firm has also played a supporting role in several other SPAC launches led by external sponsors.

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