The son of the US Secretary of Commerce leads the launch of a $30 billion cryptocurrency investment plan

Blockbeats

04-23

BlockBeats News, April 23rd, according to the Financial Times, Brandon Luttner, son of U.S. Secretary of Commerce Howard Luttner, is leading the financial services company Cantor in a partnership with SoftBank, Tether, and the cryptocurrency exchange Bitfinex to establish a Bitcoin investment consortium with a scale of over $3 billion.

According to three sources familiar with the matter, the consortium will absorb tens of billions of dollars in cryptocurrency assets held by partners, following the successful path of MicroStrategy (MSTR.O) – the software company that has transitioned to a cryptocurrency investment and currently holds Bitcoin worth tens of billions of dollars, with a market value that has soared to $91 billion.

This move comes as the Trump administration is pushing for a cryptocurrency-friendly policy. Insiders added that Tether will contribute $1.5 billion worth of Bitcoin, while SoftBank and Bitfinex will contribute $900 million and $600 million worth of Bitcoin, respectively. (Jinse Finance)

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