US Edition
Cantor Fitzgerald close to $4bn Spac deal with bitcoin pioneer
UNITED STATES, JUL 15 – Cantor Fitzgerald plans to raise $800 million from outside investors, aiming to hold nearly $10 billion in Bitcoin by 2025, making it a leading institutional Bitcoin holder.
- Cantor Fitzgerald is nearing completion of a $4 billion SPAC transaction with Bitcoin innovator Adam Back to form Bitcoin Standard Treasury Company, which plans to begin trading as BSTR on Nasdaq by late 2025.
- This transaction builds on Cantor Fitzgerald's prior $3.6 billion cryptocurrency partnership with SoftBank and Tether earlier in 2024, involving the acquisition of 30,021 bitcoins along with plans to secure additional funding for further bitcoin purchases.
- The newly established company, led by CEO Adam Back and headed in investments by Sean Bill, will manage a public bitcoin reserve exceeding 30,000 coins, making it the fourth-largest of its kind.
- Back emphasized their focused approach, committing exceptional resources to increase bitcoin holdings for each share while promoting the broader adoption of Bitcoin in everyday use.
- This deal represents Cantor Fitzgerald’s second significant cryptocurrency initiative this year and underscores Wall Street’s increasing acceptance of bitcoin as a corporate asset, with a focus on broadening bitcoin’s use in institutional settings.
42 Articles
42 Articles
Bitcoin Standard to launch on Nasdaq with $3.6 billion bitcoin treasury after merger with Cantor Fitzgerald's SPAC
Bitcoin Standard merges with Cantor Fitzgerald's SPAC to list on Nasdaq with 30,021 Bitcoin and $1.5 billion funding, becoming the 4th largest public bitcoin holder.
Bitcoin Standard to go public in $1.5B Cantor-backed SPAC deal, becomes 4th largest public bitcoin holder - Tech Startups
Bitcoin just blasted past $120,000 for the first time—and crypto companies are wasting no time cashing in. Bitcoin Standard Treasury Company is the latest to ride the wave, announcing plans to go public through a $1.5 billion SPAC deal backed […] The post Bitcoin Standard to go public in $1.5B Cantor-backed SPAC deal, becomes 4th largest public bitcoin holder first appeared on Tech Startups.
Cantor Fitzgerald SPAC Nears $4 Billion Bitcoin Deal With Adam Back: Report
Wall Street giant Cantor Fitzgerald is reportedly in the final stages of a landmark deal involving its special purpose acquisition company (SPAC), Cantor Equity Partners 1, and renowned bitcoin pioneer Adam Back, co-founder and CEO of Blockstream. The transaction is poised to be one of the largest institutional bitcoin acquisitions to date, according to a report from the Financial Times. Cantor Equity Partners 1, which raised $200 million in a …
Coverage Details
Bias Distribution
- 57% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
