Tether Acquires $459M Worth of Bitcoin for Newly Formed Treasury Company 21 Capital

Cantor Equity Partners disclosed that Tether purchased 4,812 Bitcoin, worth $458.7 million, on behalf of Jack Mallers' newly established Bitcoin treasury firm Twenty One Capital. Tether, Bitfinex, Cantor Fitzgerald, and SoftBank Group are collaborating to establish Twenty One Capital, which will launch through a SPAC merger with Cantor Equity Partners and trade on the Nasdaq under the ticker XXI.

The firm aims to launch with a treasury of more than 42,000 BTC, valued at approximately $4.4 billion with Tether and Bitfinex as majority owners. The firm's CEO, Jack Mallers, plans to raise almost $600 million through convertible notes and private equity investments. The firm aims to offer Bitcoin lending services and other financial products.