Well, well, well… it seems Cantor Equity Partners (CEP) has been busy, darling! They’ve gone ahead and disclosed a $458.7 million Bitcoin acquisition. Yes, you heard it right: almost half a billion bucks for a little digital currency, all as part of a merger with Twenty One Capital, which sounds like a charming little investment vehicle focused solely on the magical world of Bitcoin. Oh, and it’s backed by some of the big boys—Tether, Bitfinex, and the ever-so-charming SoftBank. That’s according to a regulatory filing from Tuesday. Nothing screams excitement quite like a regulatory filing, right? 😏
The deal is as complicated as a soap opera plot, involving Tether Investments, the El Salvador affiliate of Tether (yes, Tether has a family tree), and iFinex, which, if you’re not familiar, is the parent company of Bitfinex. It’s all a bit like one of those dramatic mergers where you just know something’s about to explode. Tether purchased a modest 4,812 BTC at an average price of $95,319 each, and don’t worry, the tokens are held in escrow. Oh, how thrilling. 🎭
The Blockchain data—because we all love a good data moment—shows that on May 9, the escrow wallet received these 4,812 BTC straight from a Bitfinex hot wallet. Apparently, at today’s rates, those tokens are worth a cool $500 million. Not bad for a little weekend shopping spree, eh? 🤑
Now, let’s talk about the brains behind this operation. The project is being launched by Brandon Lutnick, son of Howard Lutnick, the U.S. Commerce Secretary and chairman of Cantor Fitzgerald. No nepotism here, darling—just a good old SPAC structure using Cantor Equity Partners. The company will be run by Strike CEO Jack Mallers, and it will be majority-owned by iFinex, which is also behind Tether and Bitfinex. SoftBank will even take a minority stake, because why not? Everyone loves a good piece of the action. 🍸
The grand plan? To launch with over 42,000 BTC. It’s like they’re collecting them like rare stamps or something. How very… avant-garde. 📬
In case you’re wondering, CEP shares have surged 3.7% in after-hours trading. But of course, we all saw that coming, didn’t we? 😏
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2025-05-14 00:55