Tether Buys SoftBank's 26% Stake in Twenty One Capital

Tether has purchased SoftBank Group Inc.'s ownership stake in the digital-asset treasury company Twenty One Capital Inc., according to an announcement by the stablecoin company on Tuesday. The transaction expands Tether's control over the Bitcoin accumulator as it pursues a merger of Twenty One with two other businesses. SoftBank owned approximately 26% of Twenty One's publicly-listed shares, valued at approximately $679 million according to Bloomberg data, while Tether held around 45% of the firm prior to the acquisition.

Transaction Details

Tether did not disclose the purchase price for SoftBank's stake. The buyout increases Tether's ownership position in Twenty One Capital, a firm focused on digital-asset treasury management.