Cantor Equity Partners, a subsidiary of Cantor Fitzgerald, has seen its shares increase by 134% following the announcement of a merger to establish a new Bitcoin-focused company called Twenty One. This company is planning to go public and launch with a treasury of over 42,000 Bitcoin, valued at more than $3.9 billion at current prices. The merger will be facilitated through a SPAC, allowing Twenty One to enter the market as a publicly traded entity. Tether and Bitfinex are the majority shareholders, while SoftBank holds a minority stake. In addition to acquiring Bitcoin, the company aims to offer financial services related to the cryptocurrency and engage in media production. The transaction involves raising $385 million through convertible senior notes and $200 million via private investment in public equity to fund Bitcoin purchases and operational expenses. Jack Mallers, known for his role in Bitcoin payments, is expected to serve as CEO of Twenty One.

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