Cantor Fitzgerald’s Twenty One Capital to Raise $3B for Bitcoin Fund
Cantor Fitzgerald's partnership with SoftBank and Tether has led to a 134% surge in shares of Cantor Equity Partners (CEP). The firm is launching Twenty One Capital, aiming to raise approximately $3 billion worth of BTC from partners, including:
- $1.5 billion from Tether
- $900 million from SoftBank
- $600 million from Bitfinex
These amounts were based on an initial valuation of $85,000 per BTC, which has since increased, bringing the total valuation to around $3.9 billion. CEP will facilitate the formation of Twenty One Capital as a publicly traded entity.
Cantor’s Crypto Interests
Brandon Lutnick owns CEP, while Jack Mallers will serve as CEO of Twenty One Capital. The investment vehicle plans to secure $385 million through convertible senior notes and an additional $200 million via private equity investments. Cantor attributes its swift move into Bitcoin to favorable regulations under the Trump administration.
Switzerland Pushes for a Bitcoin Reserve
Switzerland is advocating for the Swiss National Bank (SNB) to acquire Bitcoin to diversify its foreign reserves, which are currently heavily weighted in euros and US dollars. A proposal suggests allocating 1%-2% of the SNB's $1 trillion reserves to Bitcoin to mitigate risks from monetary debasement. Lucius Meisser, a campaign leader, will address the SNB at its upcoming AGM. The SNB remains cautious about cryptocurrencies due to volatility concerns.
If approved, this would mark the first constitutional requirement for a central bank to maintain a Bitcoin reserve.