Cantor Equity Partners (CEP) revealed a $ 458.7 million Bitcoin BTC$104.199.05 Acquisition as part of a pending merger with Twenty One Capital, the BTC-focused investment vehicle supported by Tether, BitFinex and Softbank, according to a regulatory archiving on Tuesday.

The transaction is structured through a complex business combination involving Tether Investments, El Salvador -associated StableCOin -Extiers -The, and Ifinex, the parent company in BitFinex, the archiving shows. As part of the agreement, Tether bought approx. 4,812 BTC at an average price of $ 95,319, with tokens held in Escrow and later to be sold to the merged company.

Blockchain -Data shows that the escrow design book, which was revealed in the filing, received tokens from a BitFinex -Hot Wallet on May 9th. The wallet’s bitcoin stocks are worth $ 500 million at current prices, according to Arkham Data.

Twenty One Capital is launched by Brandon Lutnick – the son of US Trade Secretary and Cantor Fitzgerald Chairman Howard Lutnick – via a SPAC structure using Cantor Equity Partners. The company will be led by Strike CEO Jack Malers and Majority -owned by Tether and BitFinex’s parent company, Ifinex. Softbank will take a significant minority share, the companies said

The company said it is planning to have more than 42,000 BTC at the launch.

CEP shares are higher by 3.7% in trading after hours.

Read more: Strike CEO Mallers to lead Bitcoin Investment Company supported by Tether, Softbank, Brandon Lutnick