Son of US Commerce Secretary Lutnick starts Bitcoin fund

Howard Lutnick, the US Secretary of Commerce, has been in the news quite a lot in recent weeks. He was the man standing next to Donald Trump when the latter presented his famous graph of worldwide import tariffs on ‘Liberation Day’. After that, almost all stock markets crashed. In the days that followed, Lutnick tried to convince Europeans to buy America’s ‘beautiful beef’. By that time, the White House probably began to realize that it had made a mistake.

Tether

Brandon Lutnick, the son of that same Howard Lutnick, presented some incredible news of his own this week. He ‘s setting up a new kind of Bitcoin fund, in collaboration with Tether, Softbank and Bitfinex.

Twenty One Capital, 42,000 BTC - New Bitcoin?

Tether, SoftBank, and Jack Mallers have partnered with Brandon Lutnick to launch Twenty One Capital, a $3.6 billion Bitcoin acquisition. Debut with a 42,000 BTC reserve.​

Read more: https://t.co/KqHNKWTz6K$BTC #BTC #Bitcoin2025 pic.twitter.com/GpnxS5a2xh

— Uphorial Media (@HQuphorialmedia) April 24, 2025

The consortium announced Wednesday that it will make a multibillion-dollar investment in bitcoin through a new company called Twenty One Capital, which will buy billions of dollars in cryptocurrency from the other partners with the goal of buying more bitcoins.

Mallers

Brandon announced that Twenty One Capital would be led by Jack Mallers, who you may remember from his mid-December statement that sent Bitcoin to a record price.

https://twitter.com/Vivek4real_/status/1915115283439653017

Back then, Mallers was a guest on the podcast of American commentator and journalist Tim Pool (who also appears on Joe Rogan’s podcast). There, Mallers discussed Donald Trump’s plan to sign an ‘executive order’ to create a ‘strategic Bitcoin reserve’ in the United States as from January 2025. That did not happen, but with the money that Mallers now has at his disposal via Tether, Softbank and Bitfinex, he hopes to do something similar.