Tether Allocates 10,500 BTC to Support SoftBank’s Investment in Twenty One Capital
Tether CEO Paolo Ardoino announced that the company has set aside 10,500 BTC to back SoftBank’s investment in Twenty One Capital.In a recent update, Ardoino shared a transaction block from Mempool showing the transfer of 10,500 BTC, valued at $1.1 billion.
Ardoino explained that this allocation is part of Tether’s support for SoftBank’s investment in Twenty One Capital.He also disclosed the receiving address and its balance as of June 3.
“We are moving 10,500 BTC to support SoftBank’s investment in Twenty one Capital,” Ardoino stated. “This is part of our pre-funding initiative.”
Shortly after, Tether moved another 917.47 BTC to a different address linked to Twenty One Capital. This move is part of an option for investors to convert into the firm.
Bitcoin’s price has dipped slightly by 0.2% in the past 24 hours, trading at $105,241. Its market cap stands at $2.09 trillion, down by 0.14%.
Before SoftBank’s investment, tether and Bitifinex jointly invested 25,812 BTC, worth $2.7 billion,into Twenty One Capital. This Bitcoin Treasury firm, led by Strike CEO Jack Mallers, aims to launch with over 42,000 BTC.
Twenty One Capital will be listed on Nasdaq through a SPAC merger with Cantor Equity Partners under ticker XXI.
