Brandon Lutnick’s 21K Bitcoin Bet with Twenty One Capital

@Max, this matter is related to Bitcoin-specific investments and treasury strategies, so I’m assigning it to you.

Key Event:
Brandon Lutnick, backed by Tether, SoftBank, and Cantor Fitzgerald, launched Twenty One Capital to buy Bitcoin in bulk and expand into crypto trading, lending, and financial services. Simultaneously, Cantor Fitzgerald merged a SPAC with BSTR, a Bitcoin treasury firm led by Adam Back, aiming to position themselves as a leader in Bitcoin-focused financial firms amidst a rising market supported by favorable legislative movements in Washington.

In a significant move to dominate the burgeoning Bitcoin-focused financial landscape, Brandon Lutnick, with the formidable backing of Tether, SoftBank, and Cantor Fitzgerald, has launched Twenty One Capital. This new entity aims to acquire Bitcoin in substantial quantities and is poised to expand into a suite of crypto-centric financial services, including trading and lending.

Simultaneously, Cantor Fitzgerald has solidified its crypto ambitions by merging one of its special purpose acquisition companies (SPACs) with BSTR, a new Bitcoin treasury company. This venture will be helmed by the renowned Bitcoin pioneer Adam Back, who also serves as the CEO of Blockstream.

Lutnick, the 27-year-old son of U.S. Commerce Secretary Howard Lutnick, is carving out his own path in the digital asset space. "I want to be sitting at the heart of crypto," Brandon Lutnick stated, emphasizing his goal to drive growth for the firm within the cryptocurrency sector.

Twenty One Capital, led by CEO Jack Mallers, is set to launch with a significant treasury of over 42,000 BTC. The firm is a product of a business combination with Cantor Equity Partners, a SPAC sponsored by a Cantor Fitzgerald affiliate. At the closing of this transaction, Twenty One will be majority-owned by Tether and Bitfinex, with a significant minority stake held by SoftBank Group. The company has already raised an additional $685 million in funding, including $100 million from a recent convertible note sale. To facilitate its expansion into broader financial services, Twenty One Capital is considering applying for money-transmitter licenses across the United States.

The BSTR deal is structured to establish it as one of the largest treasury-style crypto firms. The merger with Cantor Equity Partners I will result in BSTR going public, launching with over 30,021 BTC on its balance sheet. Adam Back will contribute 25,000 BTC directly to the company. BSTR aims to raise up to $1.5 billion in additional funding to potentially increase its holdings to over 42,000 BTC.

These strategic maneuvers by Cantor Fitzgerald and its partners are timed to coincide with a more favorable legislative climate for cryptocurrencies in Washington. Recent legislative progress, including the passage of the GENIUS Act to regulate stablecoins, is providing institutional investors with greater confidence to fund crypto projects. This evolving regulatory clarity is seen as a key catalyst for the expansion of crypto-focused financial services in the U.S.

The combined Bitcoin holdings of BSTR and Twenty One Capital could approach $10 billion this year, signaling a major push by a traditional Wall Street firm into the digital asset space. This aggressive strategy mirrors the successful model of companies that hold large crypto positions, which have seen their stock values rise significantly.

Max, focus your article on the core developments to ensure clarity and impact—don’t let secondary details dilute the story. Start with Brandon Lutnick’s launch of Twenty One Capital, emphasizing its backing by Tether, SoftBank, and Cantor Fitzgerald, and its Bitcoin-centric ambitions. Then highlight Cantor Fitzgerald's parallel move with BSTR, led by Adam Back, detailing its SPAC merger and massive Bitcoin treasury plan. Be sure to explain how these actions signal Wall Street’s deepening entry into crypto, supported by favorable U.S. legislative momentum like the GENIUS Act. Keep it concise and avoid overloading with minor data.

Brandon Lutnick’s 42K Bitcoin Bet with Twenty One Capital

• Brandon Lutnick launches Twenty One Capital backed by Tether, SoftBank, and Cantor Fitzgerald.
• Cantor Fitzgerald merges SPAC with Adam Back's BSTR to lead Bitcoin treasury investments.

Brandon Lutnick, the 27-year-old son of U.S. Commerce Secretary Howard Lutnick, has unveiled Twenty One Capital, a Bitcoin-focused financial firm backed by Tether, SoftBank, and Cantor Fitzgerald. With an ambitious plan, the firm is starting operations with an initial treasury of 42,000 Bitcoin and $685 million in fresh funding. Twenty One Capital aims to acquire Bitcoin in bulk, expand into crypto trading and lending, and secure money-transmitter licenses across U.S. states to integrate itself within broader financial services markets.

Cantor Fitzgerald simultaneously advanced its cryptocurrency strategy by merging its SPAC, Cantor Equity Partners I, with BSTR, a cutting-edge Bitcoin treasury company spearheaded by Adam Back, CEO of Blockstream. BSTR will launch with over 30,021 Bitcoin in its reserves, including 25,000 Bitcoin contributed by Back. The entity is targeting $1.5 billion in funding to further expand its holdings, positioning it as a sizable competitor capable of surpassing 42,000 Bitcoin in its reserves—a move that reshapes the treasury landscape for cryptocurrencies. Together, these initiatives place institutional players at the forefront of Bitcoin-centric financial innovation.

CoinDesk reported the developments on July 18, 2025, indicating Twenty One Capital’s majority ownership held by Tether and Bitfinex, with SoftBank acting as a key minority shareholder. Lutnick expressed his ambition to "sit at the heart of crypto," signaling a long-term strategy focused on growth in the expanding digital asset space. Meanwhile, Cantor Fitzgerald’s expansion aligns with a favorable U.S. legislative climate, bolstered by the passage of the GENIUS Act regulating stablecoins, further strengthening institutional confidence in cryptocurrency markets.

The combined Bitcoin holdings of Twenty One Capital and BSTR could reach valuations nearing $10 billion by year-end, establishing them as central pillars in the digital asset ecosystem. As the market adapts to shifting regulations and institutional involvement grows, firms like Twenty One Capital and BSTR exemplify the larger trend of Wall Street’s deepening push into the cryptocurrency sphere.

As of July 18, 2025, 15:09 UTC, Bitcoin (BTC) is trading at $118,121.412, with a -0.401% change in 24-hour trading volume, according to CoinMarketCap.