Bitcoin Standard Treasury Terminates $4 Billion Cantor SPAC Merger to Stay Private

Bitcoin Standard Treasury Company and Cantor Equity Partners I have terminated their planned $4 billion SPAC merger, opting to keep the Bitcoin treasury firm private amid market pressure. Under the mutual termination agreement, BSTR's seller will pay Cantor a $15 million cash termination fee, with $10 million due September 19 and $5 million due December 1, while withdrawing its Form S-4 registration statement. The transaction, originally announced in July 2025, was structured around 30,021 BTC valued at over $3 billion alongside up to $1.5 billion in equity, convertible notes, and preferred stock financing.