SoftBank, Tether, and Cantor will jointly launch a $3 billion Bitcoin SPAC in an attempt to replicate Strategy's "Bitcoin Financial Strategy". According to multiple reports, SoftBank plans to establish a cryptocurrency enterprise called "21 Capital" with Tether and Cantor Fitzgerald, and intends to transfer billions of dollars worth of Bitcoin assets into the company's shares through SPAC. Tether will contribute $1.5 billion in Bitcoin, while Bitfinex and SoftBank will contribute $600 million and $900 million respectively, priced at $85000 per BTC. This structure is seen as the 2.0 version of the Strategy model driven by Michael Thaler, attempting to allocate Bitcoin assets in bulk through structured financial instruments to provide entry channels for more institutions. It is worth noting that Cantor has a profound influence in the US political and business circles, with its current chairman Brandon Lutnick being the son of former CEO and current Secretary of Commerce Howard Lutnick. Tether also started deep cooperation with Cantor early, including jointly managing US $80 billion of treasury bond assets and convertible bond investments. The market believes that this cooperation not only represents SoftBank's return to the Bitcoin track, but may also leverage Cantor's financial architecture and policy influence to build a more controllable crypto entrance for traditional capital. If successfully implemented, this project may become a key battle in the traditional financial encryption process.