Tether Acquires SoftBank's Stake in Twenty One Capital; XXI Shares Jump 5.6%

BTC1.26%

According to The Block, Tether International has acquired SoftBank's stake in Twenty One Capital (XXI) on Wednesday. SoftBank representatives stepped down from Twenty One's board upon transaction closing, per the shareholder agreement. XXI shares rose 5.6% to $8.05 in pre-market trading following the announcement.

Tether proposed a multi-step merger plan last month to combine Twenty One with Strike's bitcoin financial services platform and Elektron Energy. Twenty One holds 43,514 BTC ($33.7 billion), making it the second-largest public bitcoin holder after MicroStrategy's 843,738 BTC ($65.3 billion).

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