U.S. Commerce Secretary's son leads $3 billion cryptocurrency investment plan

On April 23, the Financial Times reported that Cantor, a financial services company led by Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick, is working with SoftBank, Tether and crypto trading platform Bitfinex to form a Bitcoin investment consortium with a scale of more than $3 billion.

According to three people familiar with the matter, the consortium will absorb billions of dollars in crypto assets held by partners and follow the successful path of Strategy (MSTR.O) - a software company that has transformed into cryptocurrency investment, currently holding tens of billions of dollars worth of Bitcoin, and its market value has soared to $91 billion.

The layout coincides with the Trump administration's promotion of digital currency-friendly policies. People familiar with the matter added that Tether will contribute $1.5 billion in Bitcoin, while SoftBank and Bitfinex will contribute $900 million and $600 million in Bitcoin, respectively.