Cantor Fitzgerald CEO unveils $2b Bitcoin financing initiative 

Cantor Fitzgerald, one of the leading financial services companies in the USA, announced that it will enter the Bitcoin financing business with an initial investment of $2 billion.

The company’s CEO and chairman, Howard Lutnick, announced the move at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27. Cantor, a major global financial player with $13.2 billion in assets under management, is expanding its support for Bitcoin (BTC).

The financial giant will start with an initial $2 billion round of funding and plans significant growth in the future, according to a press release from the company published on July 27. The new venture will provide leverage to investors who hold the leading cryptocurrency in the firm.

“We are excited to help unlock the full potential of Bitcoin and continue to bridge the gap between traditional finance and digital assets,” Lutnick was quoted as saying in the announcement.

Cantor Fitzgerald says it will partner with “select Bitcoin custodians” to launch its initiative, without specifying which firms just yet.

Cantor’s CEO: Bitcoin in 2024

In his speech at the conference in Nasvhille, Lutnick defended the historically controversial leading stablecoin issuer Tether (USDT), describing the asset as “incredibly well-capitalized” and emphasizing its vital role in the cryptocurrency market. He emphasized the importance of stablecoins in enabling transactions and maintaining liquidity in the digital asset space.

Lutnick also drew a parallel between BTC and gold, arguing that Bitcoin could be traded globally without restrictions.

The firm is one of 24 primary dealers authorized to transact with the Federal Reserve Bank of New York, the press release stated.

The launch of spot Bitcoin ETFs in the US earlier this year paved the way for increased institutional investment, and Cantor Fitzgerald’s financing business is likely to further strengthen this trend.

Trump’s Pro-Crypto Keynote at Bitcoin 2024

In related news, during the Bitcoin 2024 conference, former president Donald Trump encouraged attendees to “never sell your Bitcoin” and promised that his administration would maintain a national “stockpile” of the flagship cryptocurrency if he was re-elected.

Trump has also proposed the creation of a crypto advisory board to develop favorable regulations for the crypto industry and positioned himself as a strong advocate for the crypto industry, vowing to fire widely criticized U.S. Securities and Exchange Commission Chairman Gary Gensler.