Cantor Fitzgerald Launches $2 Billion Bitcoin Financing Initiative
Cantor Fitzgerald LP is set to venture into the Bitcoin financing sector, providing leverage to cryptocurrency investors.
The investment bank has announced plans to allocate $2 billion to this new business, the company said in a recent press release.
The initiative was revealed by Cantor Chairman and CEO Howard Lutnick at a Bitcoin conference in Nashville, Tennessee.
During his speech, Lutnick emphasized the firm’s commitment to facilitating global Bitcoin trade, likening the cryptocurrency’s potential to that of gold.
“My view is Bitcoin, like gold, should be free to trade everywhere in the world and as the largest wholesaler in the world we are going to do everything in our power to make it so,” Lutnick said.
“Bitcoin should trade the same as gold everywhere in the world without exception and without limitation.”
Lutnick added that as the largest wholesaler globally, they will do everything in their power to “support Bitcoin’s free trade.”
He also mentioned that Cantor already holds a substantial amount of Bitcoin.
Cantor’s new business will collaborate with selected Bitcoin custodians, though specific partners and a launch timeline were not disclosed.
Lutnick highlighted that once the initial $2 billion is utilized, Cantor plans to increase its allocation in additional $2 billion increments to sustain the business.
The news has hit the tape: $13.2B Cantor Fitzgerald is getting into Bitcoin-backed lending in a big way.
Source: https://t.co/xjJH4b3RNY pic.twitter.com/A6dSkAlUEQ
— Sam Callahan (@samcallah) July 27, 2024
The conference also featured Republican presidential candidate Donald Trump, who was expected to outline a plan for the US government to amass a significant Bitcoin reserve, according to his opponent, Robert F.
Read more on cryptonews.com
