From Yahoo Finance: 2025-04-23 09:39:00

Cantor Fitzgerald, Tether, and SoftBank Group are teaming up to launch a crypto venture, betting on Bitcoin’s growth under President Trump. The deal merges Cantor Equity Partners and Twenty One Capital, creating a $3.6 billion entity with over 42,000 bitcoins, making it the world’s third-largest Bitcoin treasury.

The new venture aims to follow the success of Michael Saylor’s Strategy, with Tether contributing $1.6 billion in Bitcoin, Bitfinex and SoftBank adding $600 million and $900 million respectively. They plan to raise an additional $585 million through convertible bonds and equity financing.

Analysts see Bitcoin as a hedge against global risks, but its price fell this month amid a global trade war sparked by Trump. Despite this, some believe Bitcoin is evolving into a digital store of value. Gold has benefited more during the trade war, reaching record highs while Bitcoin’s price lags.

Twenty One will be majority owned by Tether and Bitfinex, with SoftBank holding a minority stake. Cantor and Tether have a history of collaboration, with Cantor holding much of Tether’s dollar reserves. After the deal closes, Twenty One will trade on Nasdaq under the symbol “XXI.”

Read more: Cantor teams up with Tether, Softbank for $3.6 billion crypto venture