Cantor Fitzgerald, led by the son of the U.S. Secretary of Commerce, will reach an acquisition protocol for approximately $4 billion in Bitcoin with the founder of Blockstream Capital.

On July 16, the Financial Times cited two informed sources reporting that Cantor Equity Partners 1, a SPAC entity under Wall Street investment bank Cantor Fitzgerald led by Brandon, son of U.S. Commerce Secretary Howard Lutnick, will acquire 30,000 BTC from Adam Back, founder of Blockstream Capital. The agreement also includes raising up to $800 million in external capital for additional Bitcoin purchases, bringing the total transaction value to over $4 billion. Previously, Cantor Fitzgerald reached an agreement in April to establish a Bitcoin fund company supported by SPAC, named Twenty One, which plans to raise $3.9 billion in funding, backed by Tether, CEX, and SoftBank.