A new crypto venture valued at $3.6 billion has been formed through a collaboration between Cantor, Tether, and SoftBank. The venture is based on a bitcoin price of nearly $85,000 and includes over 42,000 bitcoins, making it the world’s third-largest bitcoin treasury. This partnership strengthens ties between Cantor, led by Brandon Lutnick, and Tether, the company behind the largest stablecoin. Tether will contribute $1.6 billion worth of bitcoin, while Bitfinex and SoftBank will invest $600 million and $900 million, respectively. The companies plan to raise an additional $585 million through convertible bonds and equity financing. Despite recent market fluctuations, some analysts view bitcoin as a hedge against global economic risks.
— new from Reuters