Shares of special purpose acquisition company Cantor Equity Partners I Inc CEPO surged into the close on Tuesday following a report that the company is nearing a deal to invest billions in Bitcoin BTC/USD.

What To Know: According to a Financial Times report, Cantor Fitzgerald chair Brandon Lutnick is in late-stage talks with Blockstream Capital founder Adam Back to buy more than $3 billion in Bitcoin.

Cantor Equity Partners I, which raised $200 million in cash in an IPO in January, would reportedly have Back contribute more than 30,000 Bitcoin to the blank check company and raise up to $800 million in outside capital as part of a broader deal aimed at accumulating the crypto.

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