Bitcoin Treasury Company Bitcoin Standard Treasury Company (BSTR), backed by Adam Back, will no longer complete the transaction under the original business combination agreement reached with Cantor Equity Partners I (CEPO) in July 2025, and the parties are negotiating a revised merger structure to reflect current market conditions. CEPO's shareholder meeting originally scheduled for July 10 has been indefinitely postponed, and the related private placement financing is no longer a closing condition. BSTR had planned to go public through a SPAC merger, holding over 30k BTC at the time of listing, and raising up to $1.5 billion through PIPE financing to purchase bitcoin. (CoinDesk)