Cantor Fitzgerald and Tether: Major Institutional Bitcoin Purchase. The brokerage firm Cantor Fitzgerald, known for its management of the USDT stablecoin reserves, plans the largest institutional purchase of Bitcoin in 2025. Cantor Equity Partners I, a subsidiary of Cantor, intends to merge with Bitcoin Standard Treasury (a structure created by Blockstream co-founder Adam Back) to convert up to 30,000 BTC worth over $3 billion, to which Cantor will add another $800 million in cash. The total deal volume will exceed $4 billion. This could significantly strengthen Bitcoin's status as the "fourth reserve currency".