Share Price of Cantor Equity Partners (CEP) Doubles Today: Essential Information to Understand

Cantor Equity Partners (CEP) stock is currently trading at around $33 per share, representing a significant 100% increase in the last 24 hours. This surge clearly surpasses market performance, with the S&P 500 and the Nasdaq Composite experiencing increases of 1.2% and 1.64% respectively.

Cantor Fitzgerald, in partnership with SoftBank and Tether, is establishing a new venture - 21 Capital, which involves a special-purpose acquisition company or SPAC, leading to the formation of CEP. Notably, the venture raised $200 million in January. The future contributions are anticipated to be huge with SoftBank set to contribute $900 million to purchase BTC at $85,000, Tether to contribute $1.5 billion, and Bitfinex to chip in with $600 million.