Bitcoin Reserve Company BSTR Seeks to Amend Its SPAC Merger Agreement with Cantor

According to Bloomberg, a special purpose acquisition company (SPAC) backed by Cantor Fitzgerald and Bitcoin reserve firm BSTR, led by Adam Back, announced they have scrapped the original terms of their proposed merger and will renegotiate a revised agreement. Amid a tightening crypto market environment and growing headwinds for Bitcoin reserve-focused firms, the two parties have opted to adjust the transaction structure. Cantor Equity Partners I Inc. and BSTR Holdings said Wednesday they will no longer advance the deal under the merger agreement signed last year, instead aiming to draft revised terms that better reflect current market conditions. Neither company disclosed specific financial details of the new transaction, nor did they provide a timeline for when a new agreement could be finalized.