Brandon Lutnick and His Crypto Venture

Brandon Lutnick is determined to carve out his own path in the crypto world, distinct from his father’s legacy. The 27-year-old son of billionaire U.S. Commerce Secretary Howard Lutnick arrived in Las Vegas in late May with bankers from Cantor Fitzgerald to explore deeper crypto investments at the Bitcoin 2025 conference.

Brandon launched Twenty One Capital, backed by Tether Holdings, SoftBank, and their family firm, aiming to purchase Bitcoin in large quantities and shape Cantor’s future around it.

Investor Interest at Bitcoin 2025

According to Bloomberg, investors quickly approached Cantor’s teams, presenting proposals for new treasury firms or seeking funding for them, demonstrating serious interest in partnering with Cantor to develop companies similar to MicroStrategy’s treasury model, which focuses on raising funds to acquire more Bitcoin.

Cantor’s Strategic Moves

By Thursday, Cantor announced a significant step forward. They merged one of their SPACs with a new Bitcoin treasury firm called BSTR, set to be led by Adam Back, the CEO of Blockstream and a pivotal figure in Bitcoin’s early development. This merger aims to establish BSTR as one of the largest treasury-focused crypto companies in the industry.

Brandon expressed his ambition, stating, “I want to be sitting at the heart of crypto,” emphasizing his role as a young leader aiming to drive growth at the firm.

The Emerging Market Model

The treasury model is gaining traction; MicroStrategy has seen a 56% increase this year, while Bitcoin itself only rose 27%. Investors are willing to pay a premium for shares in companies holding significant crypto positions, a trend Brandon believes Cantor can exploit on a larger scale.

Brandon’s Twenty One Capital is also exploring the application for money-transmitter licenses, allowing it to legally process funds and currency exchanges across the U.S., with plans to delve into trading, lending, asset management, and advisory services—all tied to cryptocurrency.

Jack Mallers, CEO of Twenty One, expressed confidence in their plans, stating, “We really do feel there’s nothing we can’t do,” regarding future financial service expansions.

Political Support for Crypto

The timing for Cantor’s crypto initiatives is promising, with Washington beginning to openly support cryptocurrency efforts. Lawmakers are working on stability legislation, and there is reduced regulatory pressure. Major U.S. banks are also considering stablecoins, adding more incentives for institutional investors to engage in crypto ventures.

Brandon highlighted the positive change in investor sentiment as politicians outline new regulations, indicating that clearer rules will foster more comfort in the market.

Cantor is not limited to BSTR’s launch; they have also introduced more SPACs than any other bank this year, rolled out a Bitcoin-backed loan product, made key hires in their investment banking division, and acquired hedge fund O’Connor from UBS.

Support from Within Cantor

Brandon’s initiatives are bolstered by his brother Kyle Lutnick, executive vice chairman of Cantor, and co-CEOs of the investment bank, who are collectively pushing for these crypto advancements.

Former healthcare banker Richard Wu has now transitioned to focus entirely on the firm’s digital asset operations, including projects related to both Ethereum and TON, in addition to Bitcoin.

Brandon acknowledges he is not trying to replace his father. “I’m not my Dad, and there was a hole to fill,” he reflected. “I’m proud of how this firm has been able to step up.”