Cantor Fitzgerald Nears $4 Billion SPAC Deal with Bitcoin Pioneer Adam Back

According to a report by Jinse Finance, U.S. brokerage Cantor Fitzgerald is nearing a SPAC deal worth approximately $4 billion with Bitcoin pioneer Adam Back. The transaction will see Cantor’s blank-check company, Cantor Equity Partners 1 (to be renamed BSTR Holdings), acquire over 30,000 bitcoins (valued at more than $3 billion) and raise an additional $800 million to further expand its digital asset purchases. Adam Back will receive shares in the company. This collaboration comes as the U.S. Congress holds its “Crypto Week” to review related legislation.