Ethereum News Today: Cantor Fitzgerald Aims to Acquire $4 Billion in Bitcoin SharpLink Gaming Surpasses Ethereum Foundation as Largest ETH Holder Trump Secures Republican Support for Crypto Bills

Cantor Fitzgerald, a New York-based financial firm led by 27-year-old Brandon Lutnick, is on the verge of finalizing a deal that could position it among the world's largest bitcoin holders. The firm is aiming to acquire billions of dollars' worth of the cryptocurrency through a publicly listed shell company. Cantor Fitzgerald's special purpose acquisition company, Cantor Equity Partners 1, is in advanced discussions with Adam Back, an early cryptographer and founder of Blockstream Capital, to acquire over $3 billion in bitcoin. Under the proposed arrangement, Back and Blockstream would contribute up to 30,000 bitcoin, valued at over $3 billion, in exchange for shares in Cantor Equity Partners 1. The SPAC also plans to raise up to $800 million from outside investors to purchase additional bitcoin, pushing the total deal value beyond $4 billion. If completed, the Cantor SPAC would be renamed BSTR Holdings. This move is part of a series of initiatives by Cantor Fitzgerald to use blank-check companies to accumulate bitcoin. In April, Brandon Lutnick partnered with SoftBank and Tether in a $3.6 billion crypto-buying venture. The firm's combined crypto acquisitions through BSTR Holdings and a separate entity, Twenty One Capital, could reach nearly $10 billion this year.

SharpLink Gaming has surpassed the Ethereum Foundation to become the largest corporate holder of ether (ETH). The Nasdaq-listed firm now controls 280,706 ETH, valued at around $840 million. This leap came after the company raised $413 million by issuing over 24 million shares between July 7 and July 11. Using much of the proceeds, SharpLink acquired 74,656 ETH last week at an average price of $2,852 each. About $257 million from the fundraising remains earmarked for additional ETH purchases. The company's latest buying spree pushes it ahead of the Ethereum Foundation, which retains about $665 million in ETH holdings, according to data from Arkham Intelligence.

President Donald Trump has announced that he has secured support from nearly all Republican lawmakers who had stalled a package of crypto bills over concerns about central bank digital currencies. This development potentially clears the way for key votes in the House. Posting to Truth Social, Trump said he met with 11 of the 12 Republican representatives whose opposition derailed votes on the GENIUS Act and two other crypto bills earlier this week. “After a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule,” he wrote. A group of House Republicans had demanded an explicit ban on a Federal Reserve-issued CBDC before allowing votes on the GENIUS Act, a bill regulating stablecoins, as well as the Anti-CBDC Surveillance Act and the CLARITY Act, which aims to establish broader crypto market rules. The legislative standoff interrupted what Republican leaders have dubbed “Crypto Week,” an effort to pass crypto reforms before Congress leaves for a month-long recess.