Tether Takes Full Control of Twenty One Capital (XXI) After Buying SoftBank Stake
Tether International has acquired SoftBank’s complete stake in Twenty One Capital (NYSE: XXI), tightening its grip on one of the biggest public Bitcoin treasuries.
Announced May 20, 2026, the deal removes SoftBank’s board seats and indicators deeper conviction in XXI as a Bitcoin-native powerhouse.
Tether Takes Full Control of XXI, Buys SoftBank Stake
Twenty One Capital launched in December 2025 through SPAC merger with Cantor Equity Partners. It debuted with over 43,500 BTC, roughly $4 billion on the time, rating because the third-largest company Bitcoin holder.
Tether and Bitfinex supplied the majority, with SoftBank contributing a major minority stake equal to about 10,500 BTC.
SoftBank introduced credibility and self-discipline throughout XXI’s formative part. Its expertise backing transformative tech companies helped form technique and appeal to institutional consideration.
With the buyout full, Tether now holds uncontested management as majority shareholder.
“Tether’s conviction in XXI has solely deepened,” said Paolo Ardoino, Tether CEO. “SoftBank’s involvement gave XXI the sort of institutional depth that few early-stage firms ever have. They go away behind an organization with a stronger basis, a clearer mandate, and an formidable path forward.”
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The move comes months after Tether proposed merging XXI with Jack Mallers’ Strike platform and Elektron Energy.
The three-way mixture goals to create an integrated Bitcoin company spanning treasury accumulation, mining, lending, and monetary providers.
Market Context and Investor Focus
XXI’s technique facilities on maximizing Bitcoin per share (BPS) by means of aggressive accumulation, capital markets instruments, and ecosystem constructing.
While pure treasury performs like MicroStrategy dominate headlines, XXI positions itself as extra operational and Bitcoin-native. Shares have skilled typical volatility tied to BTC worth motion since itemizing.
Tether’s newest motion reinforces its large Bitcoin holdings and long-term wager on BTC infrastructure.
As the world’s largest stablecoin issuer, Tether continues leveraging its stability sheet to broaden affect in public Bitcoin markets.
What’s Next for XXI?
Investors will look ahead to updates on the proposed mergers, future BTC purchases, and capital raises.
With Tether totally aligned, XXI positive aspects streamlined governance to execute its formidable roadmap.
The coming months may see accelerated progress in holdings and operational milestones as Bitcoin adoption deepens amongst firms.
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