Cantor Fitzgerald Announces $2 Billion Bitcoin Funding Initiative

Cantor Fitzgerald announced that it will open a Bitcoin financing business.

The business will offer leverage to investors who hold Bitcoin and will launch with $2 billion in seed funding.

Bitcoin Funding Business

At the 2024 Bitcoin Conference, Cantor Fitzgerald CEO and Chairman Howard Lutnick said on stage, “We’re going to build the best platform to fund Bitcoin, we’re going to work with the best custodians, we’re committed to your Bitcoin ecosystem.”

After the initial $2 billion is used, Cantor Fitzgerald plans to increase its allocation in additional $2 billion increments to sustain and expand the business.

In a July 27 press release, Lutnick highlighted Cantor Fitzgerald’s expertise: “Cantor Fitzgerald arranges and funds large amounts of securities and commodities, and as strong supporters of Bitcoin, will now build an incredible platform to support to the financing needs of Bitcoin investors.” said

“We are excited to help unlock the full potential of Bitcoin and continue to bridge the gap between traditional finance and digital assets.”

In support of this effort, Cantor Fitzgerald also said it will “partner with select Bitcoin custodians,” although specific companies were not disclosed.

Cantor Fitzgerald’s new loan facility isn’t its first venture into the crypto space. Cantor Fitzgerald, with $13.2 billion in assets under management, is known on Wall Street as one of the world’s largest bond brokers and already handles the trading of US Treasuries with Tether, the largest stablecoin issuer.

Lutnick also revealed that he owns Bitcoin and that Cantor Fitzgerald owns “a load” of the asset, expressing his enthusiasm for the cryptocurrency along with the firm’s partners.

Lutnick advocates for Bitcoin, defends Tether

Speaking at the conference in Nashville, Lutnick highlighted the company’s dedication to promoting global Bitcoin trade, comparing the cryptocurrency’s potential to that of gold.

“My view is that Bitcoin, like gold, should be free to trade worldwide, and as the world’s largest wholesaler, we will do everything in our power to make it so.”

Lutnick also addressed criticism of Tether, defending the stablecoin against claims of association with groups like Hamas. “Let me make this very clear: We would never be associated with a company that has anything to do with Jihad, and it disgusts me,” he declared.

He described Tether as “incredibly well capitalized” and highlighted its crucial role in the cryptocurrency market, highlighting the importance of stablecoins in facilitating transactions and maintaining liquidity within the digital asset space.

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