Rather than riding on his father’s legacy, Brandon Lutnick is trying to build his own lane using code. The 27-year-old son of billionaire U.S. Secretary of Commerce Howard Lutnick flew to Las Vegas with Cantor Fitzgerald’s banker in late May to push further codes during the Bitcoin 2025 conference.
Brandon has appeared in a new company called Twenty One Capital, backed by Tether Holdings, SoftBank and The Family Firm. The goal was direct. I’ve found a way to spend a lot of Bitcoin and build Cantor’s future around it.
Investors weren’t wasted time, according to Bloomberg. They pitched a team of dozens of canters at the Venetian Hotel, asking them to provide ideas to new finance companies and fund them. These were not ambiguous interest checks. They wanted Cantor to lead transactions that looked like a financial model of strategy.
Cantor combines SPAC and BSTR from companies focused on Bitcoin
By Thursday, Cantor had given them the answers. The company has integrated one of its SPACs with a new Bitcoin Treasury Company called BSTR. This will be led by Adam Back, CEO of BlockStream and an early figure in Bitcoin history. The agreement is designed to make BSTR one of the largest Treasury-style crypto companies in the market.
“I want to sit at the heart of the code,” Brandon said in an interview the same day the BSTR deal was announced. “As a young leader, Crypto is really the place where I can try to drive the growth of the company.”
The model is not new, but it works. Strategy, a renamed micro-tactic, has increased 56% this year. Bitcoin has only increased by 27%. Investors pay premiums for stocks in companies that hold large crypto positions, and Brandon’s betting canter can do the same, but it gets bigger.
Twenty One Capital is already considering applying for a money transfer license. This is a move that says companies can legally process currency in the US and stakeholders can expand to trading, lending, asset management and advisory services.
“I feel like there’s nothing I can’t do,” said Jack Mallers, CEO of Twenty One.
Washington’s move helps Cantor with crypto extensions
The timing is lined up. Washington is beginning to publicly support cryptography. Lawmakers are pushing for new Stablecoin laws, and regulators are limiting pressure. Major US banks are talking about building stubcoin. It gives institutional investors a reason to fund crypto projects.
“They’re all going to be more comfortable over time as Stablecoins laws are now being released,” Brandon pointed to a change in investor attitude as lawmakers begin to outline the rules.
On the other hand, Cantor is busy beyond BSTR. The company launched more SPACs this year than any other bank. He also launched a Bitcoin-supported loan product, hired senior investment banks, and purchased hedge fund O’Connor from UBS.
Within Kanter, the code push is supported by Kyle Lutonic, the company’s vice-president, Brandon’s older brother Kyle Lutonic, and investment bank co-CEOS Sage Kelly, Pascal Vanderia and Christian Wall.
Richard Wu, former healthcare banker at Cantor, has also moved to the Crypto unit. He is currently fully focused on the company’s digital asset management, including work related to Bitcoin as well as Ethereum and Ton.
Brandon knows he hasn’t replaced his father, but he doesn’t have to. “I wasn’t my father, I had a hole to fill,” he said. “I’m proud to see how this company has stepped up.”