Cantor Fitzgerald is embarking on a significant cryptocurrency venture in collaboration with Tether and Japanese technology investor SoftBank Group. The partnership aims to purchase bitcoin, capitalizing on the anticipated growth in interest for digital currencies under U.S. President Donald Trump’s administration.

On Wednesday, it was announced that Cantor Equity Partners, a blank-check vehicle, will merge with the newly established Twenty One Capital. This merger results in a combined valuation of $3.6 billion, which is based on a bitcoin price of nearly $85 000 and an initial holding of over 42 000 bitcoins, making the entity the third-largest bitcoin treasury globally, according to Twenty One.

Jack Mallers, Co-Founder and CEO of Twenty One, stated, “We’re not here to beat the market, we’re here to build a new one. A public stock, built by Bitcoiners, for Bitcoiners.” The newly formed company intends to emulate the success of Michael Saylor’s bitcoin acquisition strategy, whose market value increased significantly as crypto prices rose following Trump’s election victory.

Tether plans to contribute $1.6 billion worth of bitcoin to this venture, while the crypto exchange Bitfinex, associated with Tether, and SoftBank will invest $600 million and $900 million, respectively. The companies also aim to raise an additional $585 million through convertible bonds and equity financing.

Currently, bitcoin is trading at $93 780 and has gained over 40% in the last six months. However, it has recently experienced a decline alongside stock markets due to the onset of a global trade war initiated by Trump. Matt Mena, a crypto research strategist at 21Shares, emphasized the importance of a “digital, next-generation store of value,” suggesting that bitcoin is fulfilling this role amid global economic uncertainties.

In terms of ownership, Tether and Bitfinex will hold a majority stake in Twenty One, while SoftBank will possess a minority share. Tether and Cantor have established ties that date back to when Howard Lutnick led the brokerage. Notably, 99% of the U.S. Treasury bills that Tether holds are with Cantor, as Tether’s CEO Paolo Ardoino confirmed last month. After the deal is finalized, Twenty One is set to trade on Nasdaq under the ticker symbol “XXI.”