JEDDAH (Reuters) -Saudi Arabia's spending spree in the luxury aisles of the global transfer market will be expected to pay off over the next week-and-a-half as the country's leading clubs look to turn trophy signings into title winners in the Asian Champions League Elite.
- Cantor Fitzgerald is launching a crypto venture with Tether and Japanese technology investor SoftBank Group to buy bitcoin, underscoring rising institutional adoption of the once-nascent asset class.
It will deepen ties between the Wall Street brokerage — chaired by Brandon Lutnick, the son of the former Cantor boss and current U.S. commerce secretary — and Tether, the company behind the world's largest stablecoin. "We're not here to beat the market, we're here to build a new one. A public stock, built by Bitcoiners, for Bitcoiners," said Twenty One Co-Founder and CEO Jack Mallers.
Of the U.S. Treasury bills Tether holds, 99% are held with Cantor, Tether CEO Paolo Ardoino told Reuters in an interview last month.
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