Cantor Equity Partners (CEP) Update: Acquisition of 4,812 Bitcoins

Cantor Equity Partners (CEP) has announced a $458.7 million acquisition of bitcoin as part of its upcoming merger with Twenty One Capital, an investment firm specializing in BTC and supported by Tether, Bitfinex, and SoftBank, according to regulatory documents released on Tuesday.

The deal is set up through a multi-faceted business structure that involves Tether Investments, along with its El Salvador branch, and iFinex, the parent organization of Bitfinex. As part of this arrangement, Tether acquired approximately 4,812 BTC at an average price of $95,319, which are currently held in an escrow account for future sale to the newly merged entity.

Blockchain records reveal that the escrow wallet mentioned in the filings received the bitcoin from a Bitfinex hot wallet on May 9. At present, the assets stored in the wallet are valued at around $500 million, based on current market rates.

Twenty One Capital is being established by Brandon Lutnick, the son of U.S. Commerce Secretary and Cantor Fitzgerald chairman Howard Lutnick, utilizing a SPAC model in conjunction with Cantor Equity Partners. The company will be run by Jack Mallers, CEO of Strike, and will be primarily owned by Tether and iFinex, with SoftBank investing as a significant minority partner.

The aim of the firm is to launch with an impressive portfolio of over 42,000 BTC.

Following this news, shares of CEP experienced a 3.7% increase in after-hours trading.