Cantor Fitzgerald "Launching Joint Venture for BTC Accumulation"
Joining List Includes Tether, SoftBank, and Bitfinex
"Raised Initial BTC Investment of Approximately 4.2879 Trillion Won"
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Cryptocurrency-specialized media Coin Central reported on the 23rd that Cantor Fitzgerald, a US financial services company, Tether, SoftBank, and Bitfinex will establish a joint venture called '21 Capital' for the purpose of Bitcoin accumulation.
Brendan Ruttner, Chairman of Cantor Fitzgerald, announced that he will establish and operate 21 Capital through Cantor Equity Partners, a special purpose acquisition company (SPAC) established in January this year.
According to the announcement, 21 Capital is a Bitcoin accumulation company, and the sole purpose of the company is to accumulate Bitcoin. It is very similar to the operating method led by Michael Saylor.
Chairman Brendan Ruttner revealed that 21 Capital has raised over $30 billion (approximately 4.2879 trillion won) in investment from partner companies. Specifically disclosed investments are ▲Tether, $15 billion ▲SoftBank, $9 billion ▲Bitfinex, $6 billion.
Subsequently, 21 Capital plans to raise additional Bitcoin accumulation funds by issuing convertible bonds of $350 million and a private fund of $200 million.
The news of 21 Capital's launch is drawing market expectations due to the reputation of its constituents.
Chairman Brendan Ruttner is the son of Howard Ruttner, who was appointed as the US Secretary of Commerce during the second Trump administration. Cantor Fitzgerald's market capitalization is approximately $2.02082 billion (about 7.1758 trillion won).
Tether is undoubtedly the largest stablecoin issuer, with the total market capitalization of Tether (USDT) being approximately $145.26178 billion (about 207.5791 trillion won).
SoftBank is Japan's largest IT group and a global investment company, with a total market capitalization of approximately $69.13 billion (about 98.7868 trillion won).
Reporter Seung-won Kwon ksw@blockstreet.co.kr
