{"id":168181,"date":"2026-05-20T15:18:19","date_gmt":"2026-05-20T15:18:19","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=168181"},"modified":"2026-05-20T15:18:19","modified_gmt":"2026-05-20T15:18:19","slug":"tether-takes-control-of-twenty-one-capital-after-buying-out-softbank","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=168181","title":{"rendered":"Tether Takes Control of Twenty One Capital After Buying Out SoftBank"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

Tether Takes Control of Twenty One Capital After Buying Out SoftBank<\/a><\/p>\n

<\/div>\n

Tether International has acquired SoftBank\u2019s entire stake in Twenty One Capital, the Bitcoin treasury company co-founded by Jack Mallers,<\/a> consolidating control over one of the most prominent public Bitcoin vehicles to emerge in the past year.<\/p>\n

The transaction, announced<\/a> May 20, removes the last major outside ownership bloc from Twenty One\u2019s founding three-party structure. SoftBank\u2019s representatives on the company\u2019s board stepped down at closing, per the terms of XXI\u2019s shareholder agreement. No financial details of the deal were disclosed.<\/p>\n

Twenty One Capital launched in April 2025 through a business combination with Cantor Equity Partners, with the three founding sponsors \u2014 Tether, SoftBank, and Bitfinex \u2014 contributing Bitcoin in exchange for shares priced at $10 each.<\/p>\n

At inception, Tether was expected to contribute<\/a> roughly 24,000 BTC, SoftBank 10,500 BTC, and Bitfinex around 7,000 BTC. The company was built to debut with more than 42,000 BTC \u2014 enough to rank as the third-largest corporate Bitcoin treasury in the world at the time, with an implied enterprise value of $3.6 billion based on an 84-day average Bitcoin reference price.<\/p>\n

Before its listing, Tether added a further 4,812 BTC worth approximately $458.7 million to Twenty One\u2019s treasury, bringing its holdings to 36,312 BTC at that stage.<\/p>\n

With SoftBank\u2019s exit, Twenty One moves from a coalition-backed vehicle to what is, in practical terms, Tether\u2019s public Bitcoin operating arm.\u00a0<\/p>\n

The shift is structural: a company once held up by three institutional pillars now rests almost entirely on Tether\u2019s balance sheet and strategic direction.<\/p>\n

Paolo Ardoino, Tether\u2019s CEO, acknowledged SoftBank\u2019s role in shaping the company\u2019s early formation but framed the buyout as the beginning of a new phase. \u201cThey leave behind a company with a stronger foundation, a clearer mandate, and an ambitious path ahead,\u201d he said in a statement.<\/p>\n

More than a bitcoin treasury\u00a0<\/h2>\n

That path appears to extend well beyond Bitcoin treasury accumulation. In April, Tether proposed merging<\/a> Twenty One with Strike \u2014 Jack Mallers\u2019 Bitcoin payments company \u2014 and Elektron Energy, a Bitcoin mining operation.<\/p>\n

The combination would place a Bitcoin treasury, a payments and financial services layer, and mining infrastructure under one corporate umbrella, transforming Twenty One from a balance-sheet trade into an integrated Bitcoin holding company.<\/p>\n

Twenty One has positioned itself as a direct counterpoint to Michael Saylor\u2019s Strategy, adopting performance metrics like Bitcoin Per Share and Bitcoin Return Rate rather than conventional earnings benchmarks.\u00a0<\/p>\n

This post Tether Takes Control of Twenty One Capital After Buying Out SoftBank<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Tether Takes Control of Twenty One Capital After Buying Out SoftBank Tether International has acquired SoftBank\u2019s entire stake in Twenty One Capital, the Bitcoin treasury company co-founded by Jack Mallers, consolidating control over one of the most prominent public Bitcoin vehicles to emerge in the past year. The transaction, announced May 20, removes […]<\/p>\n","protected":false},"author":0,"featured_media":168182,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-168181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/168181"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=168181"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/168181\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/168182"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=168181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=168181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=168181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}