Tether just bought out SoftBank’s stake in Twenty One Capital, making it the sole owner of one of the largest corporate Bitcoin treasuries in the sector. Twenty One Capital was originally launched with backing from Tether, SoftBank, and Cantor Fitzgerald, and SoftBank’s early contribution was expected to include 10,500 Bitcoin. The firm has now grown to reportedly hold more than 40,000 Bitcoin today, putting it among the heavyweight corporate holders globally.
The bigger point is control. With SoftBank out, Tether can more directly decide how Twenty One is used inside its wider Bitcoin strategy. Tether has proposed combining Twenty One with the Strike payments platform and Elektron Energy, a Bitcoin mining business, turning it from a balance-sheet holder into a more integrated vehicle spanning treasury, payments, and mining.