According to CoinMeta, as reported by BusinessWire, BSTR Holdings announced the termination of the business merger agreement signed with Cantor Equity Partners on July 16, 2025. The reason for termination is that under the current market conditions, the valuation of Bitcoin and listed Bitcoin treasury companies is under pressure, leading to a mismatch in the capital market and limiting the role of financing tools such as convertible bonds and perpetual preferred stocks in Bitcoin treasury strategies. BSTR will continue to advance institutional-level Bitcoin asset management services.