BSTR Terminates Merger Plan with Cantor Equity Partners

BSTR Holdings, a Bitcoin treasury company, announced that it has terminated its business merger agreement with Cantor Equity Partners, which was originally signed on July 16, 2025. The reason for the termination is the current market environment, where the valuations of Bitcoin and publicly listed Bitcoin treasury companies are under pressure, leading to a mismatch in the capital markets that restricts the amplification effect of financing tools such as convertible bonds and perpetual preferred shares in Bitcoin treasury strategies. BSTR stated that it will continue to advance institutional-level Bitcoin asset management business once the market environment stabilizes.

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