Cantor Fitzgerald, a prominent financial services firm, is reportedly close to finalizing a $4 billion deal with Adam Back, an early Bitcoin advocate and founder of Blockstream Capital. The agreement involves Cantor Equity Partners 1, a special purpose acquisition company that raised $200 million in January, acquiring over $3 billion worth of Bitcoin from Back. In exchange, Back and Blockstream will receive shares in the renamed BSTR Holdings. Additional funding of up to $800 million may be raised for further Bitcoin purchases, bringing the total deal value past $4 billion. This move follows an earlier $3.6 billion crypto venture involving SoftBank and Tether. Cantor Fitzgerald aims to capitalize on rising Bitcoin prices amid President Trump's deregulation efforts. If finalized, the deal would mark Cantor as a major player in crypto acquisitions, with expected total crypto purchases reaching nearly $10 billion in 2025. Adam Back, whose Hashcash proposal influenced Bitcoin's creation, has also been actively investing in Bitcoin-related ventures this year. The deal could be finalized during "crypto week" as the U.S. Congress debates digital currency regulations.
In related legislative developments, a planned legislative push for cryptocurrency regulations in the U.S. House of Representatives, dubbed "crypto week" by Republicans, encountered unexpected delays. Thirteen Republican lawmakers joined Democrats to block procedural steps necessary for debate and voting on three key bills: a Senate-approved stablecoin regulation, a broader market structure framework, and a measure preventing the Federal Reserve from issuing a central bank digital currency. The deadlock primarily concerns whether to vote on the bills individually or as a package, with Republican leaders, including President Trump, favoring individual votes to speed passage. Trump, whose family has financial interests in stablecoins via World Liberty Financial, has advocated strongly for the legislation. He held a meeting at the White House to regain support and announced optimism that votes could proceed the following day. The stablecoin bill includes a clause preventing Congress members and their families from profiting, though this does not apply to the president. The crypto industry views these bills as vital for public legitimacy and regulatory clarity. The outcome may also influence the 2026 midterm elections, with crypto PACs preparing significant campaign funding to support favorable candidates.
Meanwhile, Standard Chartered has become the first major global bank to offer direct spot cryptocurrency trading services, beginning with Bitcoin and Ether paired against the U.S. dollar. Launched on July 15, 2025, the service is targeted at institutional clients such as corporates, asset managers, and investors. This move reflects the growing integration of cryptocurrencies into mainstream finance and the increasing demand among traditional financial institutions for crypto-related services. The initiative follows a surge in cryptocurrency popularity, spurred in part by the pro-crypto stance of U.S. President Donald Trump, under whose administration enforcement against crypto companies has eased and supportive legislation is being considered. Although other banks have offered crypto-linked investment funds, Standard Chartered is the first to provide direct trading access. The bank aims to offer a secure, regulated environment for clients to manage digital assets, utilizing existing platforms used for forex trading and allowing clients to choose their custodians. This development builds on Standard Chartered's prior involvement in the crypto space through its backing of Zodia, a crypto trading and custody business.
In the cryptocurrency market, Bitcoin is currently trading at $118,138, reflecting a 0.92% increase from the previous close. The intraday high reached $118,330, with a low of $115,930. Ethereum is priced at $3,158.60, up 5.75% from the previous close, with an intraday high of $3,159.90 and a low of $2,965.51. BNB is trading at $690.68, a 1.25% increase, with a high of $693.70 and a low of $675.94. XRP is at $2.93, up 2.45%, with a high of $2.94 and a low of $2.83. Cardano is priced at $0.744954, a 2.81% increase, with a high of $0.75014 and a low of $0.714225.
These developments underscore the dynamic and rapidly evolving landscape of the cryptocurrency industry, marked by significant institutional investments, legislative efforts, and market fluctuations. As the sector continues to mature, stakeholders are closely monitoring regulatory actions and market trends to navigate the complexities of this emerging financial ecosystem.
