On April 23, according to FT reports, three people familiar with the matter revealed that Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick, is working with SoftBank, Tether and Bitfinex to create a multi-billion-dollar Bitcoin acquisition platform. The platform raised $200 million in January and will use the funds to create a new company called 21 Capital, which will receive $3 billion worth of bitcoins from other investors and companies. Tether will invest $1.5 billion in Bitcoin, while SoftBank and Bitfinex will invest $900 million and $600 million respectively.