ADAM BACK NEARS $3.5B BITCOIN DEAL WITH CANTOR-LED SPAC
30,000 $BTC TO BE SWAPPED FOR EQUITY SHARES
Early Bitcoin pioneer Adam Back is reportedly close to finalizing a $3.5 billion deal with Cantor Equity Partners 1, a SPAC led by Brandon Lutnick, according to the Financial Times.
Under the proposed terms, the SPAC would acquire 30,000 $BTC from Back and his firm Blockstream Capital in exchange for equity in the Cantor vehicle. This would mark one of the largest crypto-to-equity transactions to date — a major move in institutional Bitcoin adoption.
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