July 16th, The Financial Times reported, citing two sources, that Cantor Equity Partners 1, a SPAC entity led by Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick and under the Wall Street investment bank Cantor Fitzgerald, will acquire 30,000 BTC from Blockstream Capital founder Adam Back. The agreement also includes raising up to $8 billion in external capital for additional Bitcoin purchases, bringing the total value of the transaction to over $4 billion.

Prior to this, Cantor Fitzgerald reached an agreement in April to establish a SPAC-backed Bitcoin fund company named Twenty One, planning to raise $3.9 billion in funding backed by Tether, Bitfinex, and SoftBank.