๐ฃ๏ธThe Bitcoin Standard Treasury Company (BSTC) , backed by Adam Back, officially terminated its planned $1.5 billion merger with the special-purpose acquisition company Cantor Equity Partners I (CEPO) on Aug 20, 2026.
๐จDeal Breakdown & Termination Details
๐นOriginal Plan (July 2025)
Aimed to take BSTR public with over 30,021 BTC on its balance sheet alongside up to $1.5 billion in PIPE financing.
๐นReason for cancellation
โข Persistent downward pressure on Bitcoin
valuations
โข Challenging market conditions
โข Capital market dislocation
that restricted the efficient use of convertible instruments
๐นTermination fee
BSTR Holdings owes Cantor Equity Partners I a $15 million cash settlement split into two payments
* $10 million due to September 19, 2026
* $5 million due to December 1, 2026
( with Blockstream Capital Partners potentially stepping in to cover if needed )
๐นFuture Outlook
โข BSTR has opted to continue executing its
Bitcoin Strategy Privately
โข Rather than persue an immediate public listing
through the SPAC vehicle
#BSTREndsCantorSPACGoPublicPlan
$BTC
$BNB
$ETH
๐จDeal Breakdown & Termination Details
๐นOriginal Plan (July 2025)
Aimed to take BSTR public with over 30,021 BTC on its balance sheet alongside up to $1.5 billion in PIPE financing.
๐นReason for cancellation
โข Persistent downward pressure on Bitcoin
valuations
โข Challenging market conditions
โข Capital market dislocation
that restricted the efficient use of convertible instruments
๐นTermination fee
BSTR Holdings owes Cantor Equity Partners I a $15 million cash settlement split into two payments
* $10 million due to September 19, 2026
* $5 million due to December 1, 2026
( with Blockstream Capital Partners potentially stepping in to cover if needed )
๐นFuture Outlook
โข BSTR has opted to continue executing its
Bitcoin Strategy Privately
โข Rather than persue an immediate public listing
through the SPAC vehicle
#BSTREndsCantorSPACGoPublicPlan
$BTC
$BNB
$ETH