Cantor Fitzgerald Launches New Bitcoin Financing Business
Wall Street’s prominent asset management firm, Cantor Fitzgerald, has recently announced its strategic partnership with Copper and Anchorage Digital to serve as custodians for its newly established bitcoin (BTC) financing division. This initiative is designed to cater to institutional investors seeking leverage on their bitcoin holdings, as stated in a press release on Tuesday.
Michael Cunningham, the Head of Bitcoin Financing at Cantor Fitzgerald, highlighted the firm’s ambitious goals, declaring, “We are launching with $2 billion in initial financing and expect to substantially grow the operation over time.” This launch marks a significant step in Cantor Fitzgerald’s ongoing commitment to enhancing the infrastructure surrounding digital assets.
In July, the firm unveiled its plans to create this financing platform, aiming to support the diverse financing needs of Bitcoin investors. This move aligns with Cantor Fitzgerald’s broader strategy of integrating cryptocurrency into traditional financial frameworks. Notably, the firm also oversees the management of stablecoin issuer Tether’s extensive stockpile of U.S. Treasuries, which underpins the value of the $142 billion USDT stablecoin.
Howard Lutnick, the former CEO of Cantor Fitzgerald, currently serves as the Secretary of Commerce and has been a vocal advocate for the integration of Bitcoin into conventional finance, emphasizing the transformative potential of cryptocurrencies in the financial landscape.
