Cantor Fitzgerald, a powerhouse in global finance, is reportedly on the verge of finalizing a multi-billion-dollar bitcoin transaction with blockchain pioneer Adam Back. According to the Financial Times, Cantor Equity Partners—a special purpose acquisition company (SPAC) backed by the firm—is in advanced talks to purchase between $3 billion and $4 billion worth of bitcoin.
The deal, if finalized, would mark one of the largest bitcoin acquisitions ever by a traditional financial institution. It also signals an aggressive move by Cantor Fitzgerald into digital assets, reinforcing the growing convergence between Wall Street and crypto.
Cantor Equity Partners was launched with a $200 million IPO in January 2025. Now, less than a year later, it's seeking to make a high-stakes entrance into the digital currency space. The SPAC is chaired by Brandon Lutnick, the son of Howard Lutnick, who stepped down as Cantor Fitzgerald’s CEO earlier this year after being confirmed as the U.S. Secretary of Commerce.
Cantor Fitzgerald, L.P.
Adam Back, co-founder and CEO of blockchain firm Blockstream, is a key figure in bitcoin’s history. His work on Hashcash, a proof-of-work system, was cited in the original 2008 Bitcoin whitepaper and remains integral to how bitcoin mining operates today.
This deal would follow closely on Cantor Fitzgerald’s initial bitcoin financing efforts in late May, which included collaborations with onchain asset manager Maple Finance and crypto brokerage FalconX.
Though neither Cantor Fitzgerald nor Back has officially commented on the reported deal, the move aligns with the pro-bitcoin views of Howard Lutnick. During his Senate confirmation process in February, Lutnick disclosed personal holdings in bitcoin and advocated for global trading freedom for the asset.
Following his confirmation, Lutnick transferred ownership of Cantor Fitzgerald to his sons, Brandon and Kyle Lutnick.
“Kyle and I are honored to continue building on our father’s legacy,” Brandon Lutnick said in a statement at the time.
Bitcoin has continued to rally in 2025, trading at $116,537 at the time of reporting, just shy of its all-time high of $120,000 reached two days prior.
