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

ChainCatcher news, according to FT, three insiders revealed that U.S. Secretary of Commerce Howard Lutnick's son Brandon 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 these funds to establish a new company called 21 Capital, which will acquire $3 billion worth of Bitcoin from other investors and companies. Tether will invest $1.5 billion in Bitcoin, while SoftBank and Bitfinex will contribute $900 million and $600 million, respectively.