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According to S&P Global, the Composite PMI (a key economic indicator) fell to 49.7 in April, dropping below the critical 50 mark that separates growth from contraction. The services sector was hit especially hard, with its index tumbling to 48.8 – the lowest in 14 months. This drop reflects growing worries about tariffs, as well as broader concerns around Germany’s economic and political future. This unexpected decline adds to an already grim outlook for the German economy, which is considered particularly exposed to global trade tensions. The IMF is now forecasting stagnation for Germany this year. Source: HolgerZ, Bloomberg
Meanwhile, Chinese imports are expected to increase to every other market, with the rest of North America predicted to see growth of 25 percent. Source: Statista @StatistaCharts
The initiative mirrors Strategy's Bitcoin plan, with contributions from Tether ($1.5 billion), SoftBank ($900 million), and Bitfinex ($600 million). Brandon Lutnick, current chair and CEO of Cantor Fitzgerald and son of former CEO Howard Lutnick, is at the helm of this venture. The initiative will utilize funds from Cantor Equity Partners, a special purpose acquisition company (SPAC) that raised $200 million earlier this year. The investment contributions to 21 Capital are substantial, with Tether expected to provide $1.5 billion in Bitcoin. SoftBank will contribute $900 million, while Bitfinex plans to supply $600 million worth of the crypto. This collaboration aims to mirror the investment approach pioneered by Michael Saylor's Strategy, which has seen significant success in the Bitcoin market🔥 The report highlights that the Bitcoin holdings from these companies will eventually be converted into shares of 21 Capital, valued at $10 per share, suggesting a valuation of $85,000 per Bitcoin. Additionally, Cantor's vehicle plans to raise $350 million through a convertible bond and an additional $200 million via private equity placements for further Bitcoin acquisitions. The Financial Times notes that an official announcement regarding this venture is expected in the coming weeks, although details may still be subject to changes or cancellation. Source: The Bitcoin Historian @pete_rizzo_