Tether CEO Paolo Ardoino announced that the company has allocated 10,500 BTC—worth $1.1 billion—to support SoftBank’s investment in the Bitcoin-focused firm Twenty-One Capital. This move is part of a larger initiative that also included an additional 917.47 BTC transfer and a prior joint investment by Tether and Bitfinex of 25,812 BTC (around $2.7 billion).
Twenty-One Capital, co-owned by Tether and iFinex and led by Strike CEO Jack Mallers, is set to launch with over 42,000 BTC in its treasury and plans to go public on Nasdaq under the ticker XXI through a SPAC merger with Cantor Equity Partners.
Around 37,229 BTC—nearly $4 billion—has been moved in the past 48 hours, with a standout 10,500 BTC transfer from Bitfinex confirmed by Tether CEO Paolo Ardoino as part of pre-funding for SoftBank’s investment in Twenty-One Capital (XXI). This Bitcoin-focused fund, launched in April, aims to hold BTC as core capital while expanding into equity and debt markets.
Backed by Tether, Bitfinex, and SoftBank, and supported by Cantor Fitzgerald, the fund is led by Brandon Lutnick. Funding includes $1.5 billion from Tether, $900 million from SoftBank, $600 million from Bitfinex, and a planned $550 million from private sources.
Image Credit: Pixabay
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
