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▲ Bitcoin (BTC), Tether (USDT)/ChatGPT generated image
Tether, the world's largest stablecoin issuer, has seized dominance in the Bitcoin financial market by acquiring Twenty One Capital's stake, previously held by SoftBank.
According to cryptocurrency media outlet Cointelegraph on May 20 (local time), Tether announced that it had acquired approximately 26% of Twenty One Capital's shares, previously held by SoftBank Group. Twenty One Capital is a prominent publicly listed Bitcoin (BTC) treasury management company launched in 2025 with the support of Cantor Fitzgerald. Following this change in ownership, SoftBank representatives will officially resign from the Twenty One Capital board.
Both companies did not disclose the exact acquisition price or the specific final stake size. However, this transaction has further solidified Tether's control as the major shareholder, allowing it to exert significant influence over Twenty One Capital's future management strategy and overall governance structure. During periods of Bitcoin price decline, asset values plummet, making it difficult to raise new funds without diluting the existing shareholders' equity, and this acquisition has become key to stabilizing the company.
Currently, Twenty One Capital's Bitcoin treasury value amounts to approximately $3.34 billion. Twenty One Capital is actively detailing a roadmap to expand beyond a simple Bitcoin holding treasury model into a comprehensive Bitcoin financial services company, encompassing Bitcoin lending, mining, and capital market services.
As this major positive news reached the market, Twenty One Capital's stock, listed on the New York Stock Exchange, reacted immediately, surging 4% in Wednesday morning trading. This stock rebound partially recouped the 37% price drop investors had experienced since the business combination with Cantor Equity Partners last December.
Earlier, signs of governance restructuring had been detected since April. Tether had previously stated its intention to vote in favor of the merger proposal between Twenty One Capital and Strike, a Bitcoin payment company led by CEO Jack Mallers. This plan includes consolidating the merged entity into a massive conglomerate that encompasses Bitcoin mining company Electron Energy, accelerating changes in the Bitcoin financial ecosystem's landscape in the future.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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