TL;DR:
- Tether acquired SoftBank’s stake in Twenty One Capital, deepening its control over the Bitcoin strategy firm.
- Following the closing of the transaction, SoftBank’s representatives on the Twenty One Capital board resigned in accordance with the shareholder agreement.
- Paolo Ardoino highlighted SoftBank’s role during the foundational stage.
Tether consolidated its position as majority shareholder of Twenty One Capital by acquiring the stake held by SoftBank in the company. The transaction resulted in the immediate resignation of the Japanese conglomerate’s representatives from the firm’s board, in compliance with the existing shareholder agreement.
Twenty One Capital was conceived as a public company built from the ground up around Bitcoin. SoftBank’s exit does not imply a retreat from that vision, but rather a reconfiguration of capital that further concentrates strategic control in Tether’s hands.
Tether Bets on the Future of XXI
SoftBank brought institutional depth during the formation stage of Twenty One Capital, offering the board the perspective of one of the world’s most seasoned technology investors. Its track record of backing category-defining companies in technology, infrastructure, financial services, and communications granted XXI a credibility difficult to replicate in early stages.
Paolo Ardoino, CEO of Tether, acknowledged that contribution in the official statement and added that SoftBank’s experience backing globally impactful technology companies brought credibility, perspective, and discipline during a critical period. Ardoino also noted that SoftBank leaves behind a company with a stronger foundation, a clearer mandate, and an ambitious road ahead.
With this acquisition, Tether reaffirms its conviction that XXI represents one of the most important opportunities to build a public company centered on Bitcoin from its origins.
According to the latest data provided by CoinMarketCap, Bitcoin (BTC) is trading around $71,200 and registers an upward variation of 0.47% over the last 24 hours. Its volume fell 15% but remains above $25 billion.
