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Cantor Fitzgerald Eyes Major Bitcoin Fundraising, $2 Billion Initial Capital to Fuel Growth
Cantor Fitzgerald, one of the world’s largest financial powers, valued at $13.2 billion, is about to make a significant entry into the market. cryptocurrency marketas the company recently unveiled plans to launch Bitcoin-backed lending on a large scale.
According to the company announcementThis strategic move involves the launch of a specialized Bitcoin financing business aimed at providing leverage to investors who hold Bitcoin, marking an important step towards integrating traditional finance into the digital asset landscape.
Cantor Fitzgerald Commits to Supporting Bitcoin
With a substantial initial funding injection of $2 billion, the company envisions substantial growth for this business in the near future, underscoring a strong commitment to expanding its presence in cryptocurrency. financial sector.
Howard Lutnick, President of Cantor Fitzgerald, expressed his enthusiasm for the new venture, highlighting the company’s experience in arranging and financing large amounts of securities and commodities, and underscoring its unwavering support for BTC.
Lutnick articulated the company’s mission to build a “cutting-edge platform” that meets Bitcoin’s financing needs investorsrecognizing the critical role these services play in unlocking the full potential of Bitcoin. Lutnick also said:
Cantor Fitzgerald curates and finances vast amounts of securities and commodities and, as a strong Bitcoin supporter, will now build an incredible platform to meet the financing needs of Bitcoin investors. We are excited to help unlock the full potential of Bitcoin and continue to bridge the gap between traditional finance and digital assets.
To facilitate the successful launch and operation of this initiative, Cantor Fitzgerald will be working with select Bitcoin custodians, which have not been disclosed at the time of writing.
US government transfers $2 billion in bitcoins
In a separate development, data analytics platform Arkham spotted a large transfer of $2 billion worth of Bitcoin from the US government to a new address in the early hours of Monday, according to to the data on chain.
Arkham’s findings suggest that this $2 billion Bitcoin transfer likely represents a deposit of 10,000 BTC with an institutional custodian or service provider. James Seyffart, ETF expert at Bloomberg to have a reference to that the move could be a result of the U.S. Marshals Service’s decision to partner with Coinbase to protect and manage its vast portfolio of digital assets.
This partnership, reported Published by Bitcoinist in early July, it is expected to streamline the government’s processes for custody, management, and disposal of cryptocurrency assets.
The agreement would allow for greater diversification of the types of digital assets that can be professionally processed and liquidated under government forfeiture programs.
Last month, the US Marshals Service recognized the need for reliable storage and liquidation techniques to manage and dispose of large amounts of popular cryptocurrencies. assetsknown as Class 1 cryptocurrencies, which ultimately led to Coinbase’s selection.
It remains to be seen what the ultimate purpose of these transfers will be, whether they will be for safekeeping or whether it will lead to a selling frenzy from the US, which could affect BTC’s current uptrend.
At the time of writing, the market’s largest cryptocurrency has fallen back to the $67,400 level after hitting a one-month high of $70,000 on Monday.
Featured image of DALL-E, chart from TradingView.com