Cantor, SoftBank and Tether Plan $3 Billion SPAC to Amass 42,000 Bitcoin

Cantor Fitzgerald LP is in advanced discussions with SoftBank Group Corp., Tether Holdings Ltd. and crypto exchange Bitfinex to establish a Bitcoin‑focused investment vehicle with about $3 billion in capital, the Financial Times reported, citing people familiar with the talks. According to draft terms, Tether would inject roughly $1.5 billion in Bitcoin, while SoftBank and Bitfinex would contribute around $900 million and $600 million respectively. The partners raised $200 million in seed funding in January and are seeking at least a further $550 million. The documents price Bitcoin at about $85,000 and set the new company’s share price at $10. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io