Tether moves 10,500 BTC to fund SoftBank
Tether backs SoftBank with 10,500 BTC for XXI launch
Tether, the leading stablecoin issuer, has revealed that it allocated 10,500 BTC—worth approximately $1.1 billion—to pre-fund SoftBank’s strategic investment into the Bitcoin-focused firm Twenty One Capital.
The announcement was made public by Tether CEO Paolo Ardoino through a blockchain explorer transaction link, confirming the significant Bitcoin movement. This comes as part of a broader commitment by Tether and its affiliates to back Bitcoin-native ventures.
Key takeaways
- Tether transfers 10,500 BTC to a designated wallet as part of pre-funding for SoftBank’s investment.
- Twenty One Capital, co-owned by Tether and iFinex, aims to launch with 42,000 BTC in its treasury.
- The initiative will list under ticker XXI on Nasdaq through a merger with Cantor Equity Partners.
- A second transfer of 917.47 BTC followed, further boosting pre-funding efforts.
Supporting SoftBank’s strategic crypto entry
Ardoino noted that the transaction aligns with a planned funding round involving SoftBank’s entry into the newly-formed Twenty One Capital (ticker: XXI), a Bitcoin treasury firm set to debut on Nasdaq via a SPAC merger.
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Tether’s decision to allocate over $1 billion in BTC underscores the company’s strong belief in Bitcoin’s long-term value. Twenty One Capital, which is led by Strike CEO Jack Mallers and founded by Cantor Fitzgerald Chairman Brandon Lutnick, is expected to serve as a dedicated Bitcoin treasury vehicle. According to Ardoino, these transfers are part of an option to convert investors into Twenty One Capital equity.
Bitcoin/TetherUS. Source: TradingView
Bolstering the Bitcoin treasury ecosystem
A day before this allocation, Tether and Bitfinex jointly funded an even larger investment of 25,812 BTC (around $2.7 billion) into Twenty One Capital. The initiative reflects a growing trend of institutional support behind Bitcoin-native financial infrastructure.
Bitcoin was trading at around $105,241 at the time of the transactions, with a market cap of $2.09 trillion. While the market showed a slight dip of 0.2%, such strategic deployments indicate a long-term vision shared by major financial players.
We previously reported that Tether supply hits record $151B, may fuel next crypto surge.
