As the U.S. government charges forward on cryptocurrencies, the sons of key figures are in position to profit (as are the fathers). The Trump forays into digital everything occurred prior to Dad's coronation and are yet to cease their frenetic pace.
The Lutnicks just announced a giant crypto deal with son Brandon having taken over for father Howard, now Trump's Secretary of Commerce. People may recognize Howard as the man whose lips are permanently planted on Trump II's left cheeks (upper and lower), while Elon Musk occupies the right cheeks.
Brandon Lutnick's Cantor Equity Partners is the SPAC incorporating Bitcoin from multiple sources. Note the use of an offshore tax haven (tax avoidance) and the use of a sibling firm for placement agent (fee generation).
The SEC was informed of Brandon's taking over from Howard in late December 2024. That's one sweet Christmas gift from Dad.
The new Bitcoin accumulation company is a bit like Frankenstein, slapped together from a number of other ventures, Bitfinex, Tether and Twenty One. The surviving company is Twenty One.
The Lutnick's Twenty One joins the Trump's American Bitcoin. The sons enjoy the fruits of their fathers' labors to legitimize and spread the glory of cryptocurrency ownership. But who will help the boys with such a wondrous task? Wall Street magnanimously offered to assist, for a minor fee of course.
Long live the Crypto Roundtable and its incestuous self serving!!!
Update 5-14-25: American Bitcoin will merge with Gryphon Digital Mining, a NASDAQ listed company. The company will be known as American Bitcoin and the ticker trading symbol is "ABTC." CNBC reported:
Existing stockholders of American Bitcoin, including the president’s two eldest sons, will own about 98% of the new entity.