Mentioned:
Tether is making a massive bet on Twenty One Capital. But, why?
What’s happening:
- Tether has purchased SoftBank’s stake in Twenty One Capital (NYSE: XXI)
Why it matters:
- Tether is now the controlling shareholder of Twenty One Capital after acquiring SoftBank’s position in the company
Going deeper:
- Twenty One Capital previously made major waves on Wall Street when they closed a SPAC deal Wirth Cantor Equity Partners to become a publicly traded company on the New York Stock Exchange with strategic investments from both Tether and Cantor Fitzgerald
- Twenty One Capital has also publicly stated they are pursuing acquisitions of Jack Mallers’ Bitcoin payments company Strike and Bitcoin mining company Elektron
The fine print:
- It has not yet been publicly disclosed what Tether paid to acquire SoftBank’s equity stake in Twenty One Capital
