{"id":23300,"date":"2025-04-23T05:46:43","date_gmt":"2025-04-23T05:46:43","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=23300"},"modified":"2025-04-23T05:46:43","modified_gmt":"2025-04-23T05:46:43","slug":"u-s-commerce-secretary-lutnicks-son-teams-up-with-tether-softbank-for-3b-bitcoin-spac-ft","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=23300","title":{"rendered":"U.S. Commerce Secretary Lutnick&#8217;s Son Teams Up with Tether, SoftBank for $3B Bitcoin SPAC: FT"},"content":{"rendered":"<div>\n<p>Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick and chair of Cantor Fitzgerald, is launching a listed bitcoin investment vehicle backed by SoftBank, Tether, and Bitfinex,<a href=\"https:\/\/www.ft.com\/content\/501210ad-d39b-4d7b-b649-bbd08ceffe6f\"> the Financial Times first reported.<\/a><\/p>\n<p>The SPAC, dubbed Cantor Equity Partners, raised $200 million in January and will help form a new firm, 21 Capital, seeded with $3 billion in bitcoin from the crypto heavyweights. The deal mirrors MicroStrategy\u2019s bitcoin proxy model and would convert the BTC into equity at a valuation of $85,000 per coin.<\/p>\n<p><a href=\"https:\/\/www.coindesk.com\/business\/2025\/03\/12\/tether-s-paolo-ardoino-says-stablecoin-issuer-has-been-through-hell-is-cheered-on-at-cantor-conference\">Cantor Fitzgerald is one of Tether&#8217;s custodians<\/a>, holding the majority of its U.S. Treasuries. Howard Lutnick, however, <a href=\"https:\/\/www.coindesk.com\/policy\/2025\/02\/04\/howard-lutnick-softens-stance-on-tether-stability-investment-ties-during-senate-hearing\">has softened his stance<\/a> on Tether&#8217;s liquidity while testifying before the Senate after initially saying the stablecoin issuer could account for every dollar.<\/p>\n<p>Tether and Bitfinex are contributing $1.5 billion and $600 million, respectively, while SoftBank is adding $900 million. The venture plans to raise another $550 million through bonds and private equity to purchase more BTC.<\/p>\n<p>The SPAC comes amid renewed crypto optimism under the Trump administration, with bitcoin hovering near $92,000 and regulatory tailwinds shifting. The deal is expected to be announced in the coming weeks, but could still change, according to the FT.<\/p>\n<p><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick and chair of Cantor Fitzgerald, is launching a listed bitcoin investment vehicle backed by SoftBank, Tether, and Bitfinex, the Financial Times first reported. The SPAC, dubbed Cantor Equity Partners, raised $200 million in January and will help form a new firm, 21 Capital, seeded with $3 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-23300","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/23300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23300"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/23300\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}