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Cantor Fitzgerald is close to reaching a $4 billion SPAC deal with Bitcoin pioneer Adam Back.
U.S. brokerage Cantor Fitzgerald is nearing a SPAC deal worth approximately $4 billion with Bitcoin pioneer Adam Back. The deal will purchase over 30,000 Bitcoins (worth more than $3 billion) through Cantor's blank check company Cantor Equity Partners 1 (which will be renamed BSTR Holdings) and raise an additional $800 million to expand digital asset purchases, with Back acquiring shares in the company. This collaboration comes as the U.S. Congress is reviewing related legislation during "Crypto Week."