 
 
Brandon Lutnick — the 27-year old chairman of Wall Street investment bank Cantor Fitzgerald and son of United States Commerce Secretary Howard Lutnick — has teamed up with early Bitcoin proponent and Blockstream CEO Adam Back for a multi-billion dollar Bitcoin deal.
The deal involves Cantor Equity Partners 1, a blank-cheque special purpose acquisition company (SPAC), and Back’s crypto trading group, Blockstream Capital.
Cantor Deepens Crypto Ties
According to a report by the Financial Times, Cantor Equity Partners 1 would reportedly acquire as much as 30,000 Bitcoin, valued at $3.5 over billion from Blockstream. Back, in return, would receive shares in the Cantor vehicle, which would be renamed BSTR Holdings.
Adam Back is one of the few individuals cited by Bitcoin’s enigmatic founder, Satoshi Nakamoto, in the 2008 Bitcoin whitepaper, as he created the proof-of-work system Hashcash that became foundational to BTC’s mining concept.
“Bitcoin was created as sound money, and BSTR is being created to bring that same integrity to modern capital markets,” Back commented on the Bitcoin treasury deal with Cantor.
 
The Cantor-backed deal also includes plans to raise up to $800 million in additional outside capital for more Bitcoin buys.
“By securing both fiat and Bitcoin funding on day one—including the first convertible preferred round announced in conjunction with a Bitcoin treasury SPAC merger—we are putting unprecedented firepower behind a single mission: maximizing Bitcoin ownership per share while accelerating real-world Bitcoin adoption,” Back added.
Brandon Lutnick is also pursuing a SPAC merger to take Bitcoin investment company Twenty One, which is backed by major firms like SoftBank and Tether, public with a planned balance sheet of more than 42,000 BTC.
When completed, the deal would make Cantor one of the world’s top Bitcoin buyers, and its combined crypto purchases between its two vehicles, BSTR Holdings and Twenty One Capital, could hit a staggering $10 billion in 2025.
These deals come amid the Trump administration’s more accommodative stance toward the cryptocurrency industry. The first major crypto regulatory initiative in the U.S. is about to become law after the House of Representatives passed the GENIUS stablecoin bill on Thursday.
The historic bill now only needs Trump’s signature to become law, which is expected to happen at 2:30 pm on July 18 in Washington, DC, during a “signing ceremony,” as revealed by renowned journalist Eleanor Terrett.
Bitcoin traded at $119,377 as of press time, having reached an all-time high price point of $122,838 just four days prior.
Source: https://zycrypto.com/cantor-fitzgerald-strikes-3-5-billion-bitcoin-treasury-deal-with-early-bitcoiner-adam-back/