Cantor, Partners Form $3.6B Bitcoin SPAC

Cantor Fitzgerald, Tether, Bitfinex, and SoftBank Group have announced the formation of Twenty One Capital, a public Bitcoin-focused company set to become the world’s third-largest corporate holder of Bitcoin, with an initial treasury of over 42,000 BTC valued at about $3.6 billion. The company will be majority-owned by Tether and Bitfinex, with SoftBank as a significant minority shareholder, and led by Strike CEO Jack Mallers. Twenty One Capital will go public via a SPAC merger with Cantor Equity Partners, temporarily keeping the NASDAQ ticker ‘CEP’ until the deal's closure. The company will offer direct Bitcoin exposure and Bitcoin-native financial products, mirroring MicroStrategy’s accumulation strategy. An additional $585 million in capital will be raised to further expand Bitcoin holdings and develop related services. This move highlights the increasing trend of corporations adopting Bitcoin as a primary balance sheet asset.