CANTOR STRIKES $3.6BN CRYPTO DEAL WITH SOFTBANK AND TETHER

Summary from the TLDR Crypto newsletter

A consortium led by Cantor Equity Partners will merge into Twenty One Capital, a $3.6 billion Bitcoin acquisition vehicle launching with 42,000 BTC, making it the third largest corporate reserve. The deal includes a $385 million convertible bond and $200 million private equity placement. Tether will contribute at least $1.5 billion in Bitcoin, with SoftBank and Bitfinex providing the remainder. Modeled on MicroStrategy's pivot to large-scale crypto holdings, Twenty One Capital aims to harness institutional demand under a more accommodating Trump administration. Strike founder Jack Mallers will act as CEO.