Tether Acquires SoftBank Stake in Bitcoin Treasury Firm Twenty One Capital

• Tether buys SoftBank’s approximately 26% stake in Twenty One Capital, with SoftBank board representatives stepping down.
• XXI holds 43,514 BTC, valued at roughly $3.4 billion, making it one of the largest public corporate Bitcoin treasuries.
• The transaction aligns ownership under Tether, supporting XXI’s pivot toward Bitcoin-native financial services including lending and mining.
• Shares of XXI rose following the announcement amid broader market dynamics.

Tether International has acquired SoftBank Group’s stake in Twenty One Capital (NYSE: XXI), the public Bitcoin treasury company, further consolidating its position as the controlling shareholder and advancing the firm’s long-term Bitcoin strategy.

Announced on May 20, 2026, the deal sees Tether purchase SoftBank’s roughly 26% stake for an undisclosed sum. As part of the transaction, SoftBank’s representatives on the XXI board stepped down in line with the shareholder agreement.

Twenty One Capital, co-founded with involvement from Jack Mallers of Strike, launched publicly in late 2025 via a SPAC merger. It entered the market with over 43,500 BTC on its balance sheet, positioning it among the top public corporate Bitcoin holders. Current holdings stand at 43,514 BTC, worth approximately $3.4 billion.

The acquisition reflects Tether’s deepened conviction in XXI as a vehicle to build a public company “around Bitcoin from the ground up.” Paolo Ardoino, CEO of Tether, highlighted SoftBank’s early contributions while emphasizing the strengthened foundation for future growth.

XXI is expanding beyond pure treasury holdings into a broader Bitcoin-focused financial services platform. Plans include Bitcoin lending, mining operations, and capital markets activities, aiming to generate recurring revenue while continuing BTC accumulation. Earlier discussions included potential mergers with Strike and Bitcoin miner Elektron Energy.

Public Bitcoin treasury companies have faced volatility, with share prices sensitive to BTC movements. XXI shares rose around 4-5% in reaction to the news, partially recovering from prior declines.

This development underscores Tether’s growing influence in the Bitcoin ecosystem beyond its dominant stablecoin position. By tightening control over a major public treasury vehicle, the issuer is positioning for deeper integration across lending, infrastructure, and institutional Bitcoin strategies.

Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.

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