Trading at around $33 per share at the time of this writing, the price of Cantor Equity Partners (CEP) stocks have increased by a whopping 100% in the past 24 hours.
The stock is clearly outperforming the rest of the market, which is also trading in the positive. For instance, the S&P 500 charts gains upwards of 1.2%, while the Nasdaq Composite is up by 1.64%.
AsCryptoPotatoreported yesterday, Cantor Fitzgerald is teaming up with SoftBank and Tether to launch a new venture called 21 Capital. The investment structure involves a special-purpose acquisition company, commonly referred to as a SPAC – the newly formed Cantor Equity Partners (CEP).
It’s worth noting that it raised $200 million in January.
In any case, SoftBank will contribute $900 million to buy BTC at $85,000, Tether will contribute $1.5 billion, and Bitfinex will be in with $600 million.