Cantor Fitzgerald announced plans to open a $2 billion Bitcoin financing initiative at the Bitcoin 2024 conference. The initiative will offer leverage and security for Bitcoin (BTC) holders.
Cantor Fitzgerald CEO Howard Lutnick announced the business, which will launch with $2 billion in initial financing.
Cantor Fitzgerald Makes Major Announcement
According to a press release issued by Cantor Fitzgerald, the new business will provide BTC holders leverage. CEO Howard Lutnick stated at the Bitcoin 2024 conference,
“We are going to launch with $2 billion in lending and increase the facility in $2 billion tranches as needed. We are going to welcome Bitcoin into the financing family of the global financial markets. We will build the best platform for financing Bitcoin, work with the best custodians, and be committed to your Bitcoin ecosystem.”
Cantor Fitzgerald will partner with select Bitcoin custodians for its new endeavor, although the company did not name any specific custodians.
“Cantor Fitzgerald arranges and finances vast amounts of securities and commodities and, as strong supporters of Bitcoin, will now build an incredible platform to support Bitcoin investors’ financing needs. We are excited to help unlock Bitcoin’s full potential and continue bridging the gap between traditional finance and digital assets.”
Not The First Foray Into Crypto
Cantor Fitzgerald’s new Bitcoin financing initiative is not the first time the company has forayed into the crypto ecosystem. The company has over $13 billion in assets under management, is well known on Wall Street as one of the largest bond brokerages in the world, and already handles US Treasury Trading with Tether, the issuer of the USDT stablecoin. Additionally, Cantor Fitzgerald also owns a considerable amount of Bitcoin, with the company’s CEO disclosing that he personally also owned Bitcoin, demonstrating his support and enthusiasm for the cryptocurrency.
A Big BTC Advocate
During his address at the Bitcoin 2024 conference, Lutnick underscored Cantor Fitzgerald’s dedication to Bitcoin, and promoting the asset’s trade. He compared Bitcoin’s potential to that of gold, stating,
“My view is that bitcoin, like gold, should be free to trade everywhere in the world, and as the largest wholesaler in the world, we are going to do everything in our power to make it so.”
He also discussed Tether’s USDT and the criticism of the stablecoin, defending it against claims it was associated with terrorist groups. He described USDT as “incredibly well capitalized and highlighted the stablecoin’s crucial role in the larger crypto ecosystem when it came to facilitating transactions and maintaining liquidity.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
