Tether adds over $3 billion BTC to pre-fund Bitcoin-native firm Twenty One Capital

Tether has added over $3 billion worth of Bitcoin to support the launch and pre-funding of Twenty One Capital. According to CEO Paolo Ardoino, Tether has transferred 10,500 BTC, valued at approximately $1.1 billion, to an address linked to Japanese investment giant SoftBank as part of its upcoming investment into Twenty One Capital. Paolo Ardoino 🤖 @paoloardoino · Follow Tether Group is moving 10500 BTC to address bc1qpzt4m58zzqgp84ktyuj5tz8g8k8ssg2g2d5eeerwhx4gxulqq5mqjzm5gc as part of the pre-funding of SoftBank’s investment in Twenty One Capital (XXI) mempool.space/address/bc1qpz… 12:35 PM · Jun 3, 2025 756 Reply Copy link Read 49 replies Simultaneously, a separate transfer of 917 BTC , valued at around $96 million, was also made to an address associated with convertible equity investors in Twenty One Capital. Ardoino noted that this allocation was made to support investor options in the venture. Earlier, on June 2, Tether and its affiliates executed a combined transfer of 25,812 BTC, amounting to approximately $2.7 billion. That round included 14,000 BTC from Tether, 7,000 BTC from Bitfinex, and a 4,812 BTC portion designated for an equity raise. Together with the latest transactions, Twenty One Capital now holds over 42,000 BTC, making it the third-largest corporate Bitcoin holder globally, behind Strategy (formerly MicroStrategy) and MARA Holdings. The latest disclosure builds on an earlier investment made on May 9, when Tether acquired 4,812 BTC at an average price of $95,319 per token. According to a filing with the U.S. Securities and Exchange Commission, those coins were transferred to an escrow wallet, lifting Twenty One Capital’s treasury to 36,312 BTC at the time. What is Twenty One Capital? Tether, along with Bitfinex and SoftBank, co-founded Twenty One Capital in April 2025, establishing it as a Bitcoin-first institutional platform designed to facilitate capital market services natively on Bitcoin, including custody, lending, and asset issuance. Twenty One Capital plans to build native infrastructure for custody, lending, and capital markets directly on Bitcoin, thereby acting as a foundational layer for institutional BTC adoption. Strike CEO Jack Mallers is leading the venture as it plans to go public via a SPAC merger with Cantor Fitzgerald’s Cantor Equity Partners. Under the terms of the business combination agreement, Tether agreed to contribute Bitcoin equivalent to proceeds from a PIPE investment, to be sold to Twenty One Capital at the time of the merger’s close. The new entity will list on Nasdaq under the ticker “XXI” and debut with more than 42,000 BTC in its treasury. As part of its commitment, Tether will add 23,950 BTC, while SoftBank and Bitfinex will contribute 10,500 BTC and 7,000 BTC, respectively. All allocations will be converted into shares priced at $10 each. Cantor Fitzgerald is also advising on the deal and securing additional capital. According to Mallers, upon launch, Twenty One Capital will become an investment vehicle “built by Bitcoiners, for Bitcoiners,” aiming to become the most successful company in Bitcoin. Contrary to the traditional approach, the firm will focus on “Bitcoin per share” as a core performance metric, shifting away from conventional measures such as earnings or revenue growth. Instead, its success will be gauged by how much Bitcoin it holds relative to its outstanding shares. The post Tether adds over $3 billion BTC to pre-fund Bitcoin-native firm Twenty One Capital appeared first on Invezz

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