Cantor Fitzgerald nears $4 billion SPAC deal with Bitcoin pioneer Adam Back

Odaily News U.S. brokerage Cantor Fitzgerald is close to a roughly $4 billion SPAC deal with Bitcoin pioneer Adam Back. The deal will see Cantor’s blank check company Cantor Equity Partners 1 (to be renamed BSTR Holdings) purchase more than 30,000 bitcoins (worth more than $3 billion) and raise an additional $800 million to expand digital asset purchases, with Back acquiring a stake in the company. The partnership comes as the U.S. Congress considers related legislation during “Crypto Week.”