Cantor Fitzgerald SPAC Nears $4 Billion Bitcoin Deal With Adam Back: Report

Cantor Fitzgerald's SPAC, Cantor Equity Partners 1, is nearing a deal with Adam Back, co-founder and CEO of Blockstream, to acquire 30,000 Bitcoin, valued at over $3 billion. Cantor Equity Partners 1 previously raised $200 million through an IPO. In exchange, Blockstream and Adam Back will receive shares in the new entity, which will be renamed BSTR Holdings. The SPAC also intends to raise up to $800 million from other investors to buy more Bitcoin. If completed, this could bring the total value of the deal to over $4 billion and increase Cantor Fitzgerald's Bitcoin exposure, which follows an earlier $3.6 billion crypto venture.