Tether and Bitfinex Transfer Massive $2.7 Billion in Bitcoin to Crypto Investment Firm Twenty One Capital

Tether Moves $2.7 Billion in Bitcoin to Twenty One Capital for Financing Deal

Tether CEO Paolo Ardoino has confirmed the stablecoin company transferred 25,812 Bitcoin (worth approximately $2.7 billion) to a new address as part of its collaboration with Twenty One Capital. This Bitcoin treasury firm involves key players including crypto exchange Bitfinex and financial heavyweights Cantor Fitzgerald and SoftBank.

Details of the Bitcoin Transfer

Ardoino, who also serves as Bitfinex's Chief Technology Officer, explained the transfer represents "part of the pre-funding of the initial convert/equity raise in Twenty One Capital." The announcement follows Twenty One Capital CEO Jack Mallers' commitment to provide proof of reserves and full transparency regarding the company's Bitcoin holdings.

Upcoming Transparency Measures

Mallers, founder of Strike parent company Zap, revealed that both Tether and Bitfinex will disclose their wallet addresses in the coming week to demonstrate their Bitcoin contributions to Twenty One Capital. He also noted these disclosures will include an additional contribution from Tether made on behalf of SoftBank.

Industry-Wide Bitcoin Adoption

The move coincides with Norway-based K33 adopting a Bitcoin treasury strategy, entering a financing agreement to purchase over 60 million Swedish krona ($6.2 million) worth of Bitcoin. Twenty One Capital plans to list on Nasdaq through a SPAC merger with Cantor Equity Partners under the ticker XXI, with plans to raise $100 million through convertible notes for further Bitcoin acquisitions.

This strategic move reflects the growing corporate adoption of Bitcoin as a treasury asset, following the path pioneered by companies like MicroStrategy.