Tether Acquires SoftBank's Entire Stake in Twenty One Capital for $711M

BTC-0.24%
According to SEC filings, Tether acquired all 891,000 Series A shares of Twenty One Capital (XXI) from SoftBank on Wednesday for approximately $711 million, based on Wednesday's closing price of $7.98 per share. Twenty One Capital holds 43,514 Bitcoin worth around $3.4 billion. SoftBank initially purchased the stake for $999.3 million last June, marking a significant loss on its exit.
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