June 2025 Stablecoin issuer Tether and cryptocurrency exchange Bitfinex transferred $3.9 billion worth of Bitcoin to the Bitcoin-native financial platform Twenty One Capital led by Strike’s CEO Jack Mallers. This made Twenty One Capital the world’s third-largest holder of Bitcoin companies after MicroStrategy (now renamed Strategy) and Bitcoin mining company Mara.
According to the news released by Paolo Ardoino, the CEO of Tether, on the X platform on June 3rd, Tether transferred a total of 11,417 Bitcoins (worth 1.2 billion US dollars) in two installations. One of the transactions was that Tether transferred 10,500 Bitcoins (approximately $1.1 billion) to the address related to SoftBank’s investment in Twenty One Capital, which was part of the pre-financing of SoftBank’s investment in the Bitcoin platform. In another post, Ardoino stated that Tether also separately transferred 917 bitcoins to wallets associated with Convert investors who hold equity in the company, worth approximately 96 million US dollars at that time.
One day ago, on June 2nd, Tether and Bitfinex carried out the largest batch of Bitcoin transfers, totaling 25,812 coins, with a value of approximately 2.7 billion US dollars at that time. This includes 7,000 Bitcoins (worth over 730 million US dollars) transferred by Bitfinex to Twenty One Capital as part of its investment in Twenty One Capital. Subsequently, Tether transferred 14,000 Bitcoins. And 4,812.22 Bitcoins (approximately 500 million US dollars), which is a pre-financing for the first equity financing.
Twenty One Capital plans to go public through a merger with Cantor Equity Partners’ Special purpose Acquisition company (SPAC) of Cantor Fitzgerald, with a company valuation of 3.6 billion US dollars.
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