Tether's move with 21Cap might be a 1 stone N birds strat

- Offload BTC from their reserve in prep for GENIUS

- Park it offbalance sheet but still in reach in the future (rehypothecation)

- Raise fresh $$$ via 21Cap as the premium farming wrapper in capital market

They still have secured loan, corp bond, and gold on the balancesheet so will see how the offload those 👀