PANews reported on April 23 that according to Businesswire, the newly established Bitcoin company Twenty One Capital, Inc. announced today that it has signed a definitive agreement with Cantor Equity Partners, Inc. (NASDAQ: CEP). Upon completion of the business merger, Twenty One will be controlled by Tether and Bitfinex, and SoftBank Group will hold a large minority stake. Twenty One and CEP have also signed subscription agreements with investors to raise an additional $585 million in total capital upon completion of the transaction. Twenty One and CEP have also signed subscription agreements with investors to raise an additional $585 million in total capital upon completion of the transaction, including (i) raising $385 million through convertible senior secured notes and (ii) raising $200 million through common stock private equity (PIPE) financing ("PIPE Financing"). The net proceeds of the PIPE Financing will be completed simultaneously with the business merger and used to purchase additional Bitcoin and for general corporate purposes. Twenty One expects to start with a holding of more than 42,000 Bitcoins, which will make it the world's third largest Bitcoin reserve holder to date. Twenty One aims to accumulate Bitcoin and increase holdings per share, rather than just track Bitcoin price.
Earlier news , people familiar with the matter said that Cantor will work with SoftBank and Tether to establish a $3 billion crypto joint venture to invest in Bitcoin.
