Cantor Fitzgerald is nearing an agreement on a Bitcoin transaction worth 600 billion yen, according to reports.

## 600 billion yen scale Bitcoin transaction

The Financial Times reported on the 16th that Brandon Luttnick, son of U.S. Secretary of Commerce Howard Luttnick, is close to an agreement on a virtual currency transaction worth about $4 billion (equivalent to 600 billion yen) with early Bitcoin supporters. He plans to purchase billions of dollars worth of Bitcoin (BTC) through an investment firm backed by Cantor Fitzgerald.

SPAC "Cantor Equity Partners 1", which raised $200 million in its January IPO, is in the final stages of negotiations with Adam Back, the founder of the cryptocurrency trading group "Blockstream Capital". Back is set to contribute up to 30,000 BTC, and Cantor Equity Partners 1 plans to raise an additional $800 million in external funding.

This transaction follows the $3.6 billion cryptocurrency purchase agreement that Mr. Brandon Rutnick signed with SoftBank and Tether in April.

If the agreement is reached, the SPAC will be renamed "BSTR Holdings," and Cantor is expected to become one of the world's largest Bitcoin purchasing companies, with an annual purchase amount estimated to reach nearly $10 billion from its two investment firms.

Mr. Back developed the hashcash cryptographic proof in 1997 and is one of the few early cryptographers cited in the white paper of Bitcoin's founder, Satoshi Nakamoto. His proposed proof-of-work system forms the basis of current Bitcoin mining, and he is also a co-founder of the blockchain company Blockstream, established in 2014.

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