Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick, is launching a bitcoin investment vehicle named Cantor Equity Partners, backed by Tether, SoftBank, and Bitfinex. The special purpose acquisition company (SPAC) raised $200 million in January and aims to form 21 Capital, which will be seeded with $3 billion in bitcoin. This venture is compared to MicroStrategy’s bitcoin proxy model, intending to convert bitcoin into equity at a valuation of $85,000 per coin. Tether contributes $1.5 billion, Bitfinex $600 million, and SoftBank $900 million to the project, with plans to raise an additional $550 million through bonds and private equity for more bitcoin purchases. This SPAC emerges amid renewed optimism in the crypto market, with bitcoin nearing $92,000 amid regulatory tailwinds. The official announcement is expected soon, though details may still evolve.

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