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Cantor Fitzgerald is close to reaching a $4 billion SPAC deal with Bitcoin pioneer Adam Back

Internet reports that U.S. brokerage Cantor Fitzgerald is close to reaching a SPAC deal with Bitcoin pioneer Adam Back for approximately $4 billion. The transaction will purchase more than 30,000 bitcoins (worth more than $3 billion) through Cantor Equity Partners 1, a blank check company owned by Cantor, which is to be renamed BSTR Holdings, and plans to raise an additional $800 million to expand the scale of digital assets. Adam Back will exchange Bitcoin for shares in the company. This move marks Cantor's accelerated deployment of crypto assets, and the total purchase of crypto assets this year is expected to be close to US$10 billion. The deal is expected to complete this week, as Congress engages in intensive discussions on digital currency legislation.

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