Cantor will collaborate with SoftBank and Tether to establish a $3 billion cryptocurrency joint venture

According to FT, three insiders revealed that Brandon Lutnick, son of US Secretary of Commerce Howard Lutnick, is collaborating with SoftBank, Tether, and Bitfinex to create a multi billion dollar Bitcoin acquisition platform. The platform raised $200 million in January and will use the funds to create a new company called 21 Capital, which will receive $3 billion worth of Bitcoin from other investors and companies. Tether will contribute $1.5 billion in Bitcoin, while SoftBank and Bitfinex will contribute $900 million and $600 million respectively.