Cantor Fitzgerald LP’s agreement to acquire the O’Connor division from UBS Group AG $UBSG.SW signifies a transformative chapter for both institutions. This transition ends more than three decades of Swiss bank stewardship over O’Connor, originally integrated into the financial conglomerate in 1992 via Swiss Bank Corp. The transaction reinstates Bill Ferri, a founding figure within O’Connor, at the helm of the unit.

Cantor Fitzgerald, a notable name in the financial realm, is set to enter the cryptocurrency space through an ambitious partnership with Tether and the Japanese technology investor SoftBank Group $9984.T. The announcement marks the establishment of a new enterprise, Twenty One Capital, precipitated by the merger with Cantor Equity Partners. This strategic move aims to launch a dedicated avenue for purchasing bitcoin while capitalizing on the anticipated surge in digital currency interest amid evolving U.S. political dynamics.