Cantor Fitzgerald is pushing deeper into crypto. A new $3 billion bitcoin-focused venture backed by SoftBank, Tether and Bitfinex aims to take a page from Strategy’s playbook—amassing large bitcoin holdings and riding its price volatility into public market success.

The European Central Bank is pressing for revisions to the European Union’s landmark Markets in Crypto Assets (MiCA) legislation, warning that rising U.S. support for dollar-backed stablecoins could pose risks to financial stability across the bloc.

Paul Atkins has been sworn in as the new chairman of the U.S. Securities and Exchange Commission, cementing a leadership shift that favors a more lenient regulatory approach toward digital assets.

Top stories in the Crypto Roundup today:

• Cantor Taps SoftBank and Tether for $3B Bitcoin Bet Amid U.S. Policy Shift
• ECB Pushes for MiCA Rewrite Over U.S. Crypto Expansion, Clashes With EU Commission
• Crypto-Friendly Paul Atkins Sworn In as SEC Chair, Replacing Gensler

Cantor Taps SoftBank and Tether for $3B Bitcoin Bet Amid U.S. Policy Shift

Cantor Fitzgerald is pushing deeper into crypto. A new $3 billion bitcoin-focused venture backed by SoftBank, Tether and Bitfinex aims to take a page from Strategy’s playbook—amassing large bitcoin holdings and riding its price volatility into public market success.

The vehicle, called Cantor Equity Partners, is chaired by Brandon Lutnick, son of U.S. commerce secretary and Cantor’s longtime CEO Howard Lutnick. The fund will spin off a firm called 21 Capital, seeded with bitcoin from its high-profile partners. According to sources familiar with the deal, Tether is contributing $1.5 billion in BTC, SoftBank $900 million and Bitfinex $600 million.

 21 Capital plans to raise an additional $350 million via convertible debt and another $200 million through a private equity placement to purchase more bitcoin. Eventually, its backers would swap their bitcoin for shares at a price pegged to a $10-per-share valuation, pricing bitcoin at $85,000 per coin.

Cantor Fitzgerald, already a broker for Tether’s investments, is also expanding its SPAC footprint. In addition to Cantor Equity Partners, it’s steering two other blank-check firms under the younger Lutnick’s leadership.

ECB Pushes for MiCA Rewrite Over U.S. Crypto Expansion, Clashes With EU Commission

The European Central Bank is pressing for revisions to the European Union’s landmark Markets in Crypto Assets (MiCA) legislation, warning that rising U.S. support for dollar-backed stablecoins could pose risks to financial stability across the bloc.

According to a report from Politico, the ECB distributed a policy paper during a recent meeting with top EU officials, arguing that the current version of the Markets in Crypto Assets regulation needs reworking. 

The central bank fears that proposed U.S. legislation—such as the Stablecoin Transparency and Accountability for a Better Ledger Economy Act (STABLE) and the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS) —could supercharge the stablecoin market and increase reliance on the U.S. dollar in digital form. 

Standard Chartered estimates the sector could balloon to $2 trillion within three years. The ECB's move comes just months after MiCA took full effect, with its rules for stablecoins in place since June last year. But the European Commission is resisting calls to amend the framework so soon. 

In a separate document shared at the same meeting, the Commission described the ECB's concerns as premature. “The risks arising from such global stablecoins seem to be overstated,” it said. Only one firm—Circle, issuer of the USDC stablecoin—has so far been approved under MiCA, receiving the EU’s first stablecoin license in July 2024.

Crypto-Friendly Paul Atkins Sworn In as SEC Chair, Replacing Gensler

Paul Atkins has been sworn in as the new chairman of the U.S. Securities and Exchange Commission, cementing a leadership shift that favors a more lenient regulatory approach toward digital assets.

Atkins, confirmed by the Senate earlier this month in a 52-44 vote, replaces Gary Gensler—a figure viewed by the crypto industry as a staunch opponent. The move marks a formal pivot in the SEC’s posture, as the agency begins to unwind years of aggressive crypto enforcement and clarify that many digital assets fall outside its jurisdiction.

The transition comes at a time when the SEC is already hosting crypto roundtables, relaxing its stance on enforcement and coordinating a task force to address industry concerns. Republican commissioners Mark Uyeda and Hester Peirce have laid the groundwork for this policy reset, and Atkins is expected to continue their trajectory.

A former SEC commissioner from 2002 to 2008, Atkins also advised crypto firms during his time in the private sector. His connections on Wall Street and in Washington position him as a key player in shaping the agency’s evolving oversight of the crypto sector.

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