Tether, a leading stablecoin provider, along with Bitfinex, has carried out a substantial transfer of 25,812 Bitcoin, valued at nearly $2.7 billion, to a newly created wallet. This move was confirmed by Tether’s CEO, Paolo Ardoino.
On Monday, Ardoino indicated that this transfer is intended to bolster their investment in Twenty One Capital, a Bitcoin treasury firm. He communicated this information via a post on X, noting that it serves as a crucial step in the “pre-funding of the initial convert/equity raise in Twenty One Capital.”
Tether Group transferred 4,812.22029710 BTC to the wallet address bc1qzup4k7zn9jur7a8kz0dnaernzyf60h8ez6s9cpmp23wfw5djhvusd4p0v3, forming part of the pre-funding for the initial convert/equity raise in Twenty One Capital (XXI)https://t.co/SqhVRzq3k9
— Paolo Ardoino (@paoloardoino) June 2, 2025
Twenty One Capital, which is spearheaded by Strike CEO Jack Mallers, has garnered backing from prominent entities such as Bitfinex, SoftBank, and Cantor Fitzgerald.
The initial transfer from Tether comprised 4,812.22 BTC directed to a Twenty One Capital wallet, which was subsequently augmented by an additional 14,000 BTC. Meanwhile, Bitfinex executed a simultaneous transfer of 7,000 BTC.
@Bitfinex is moving 7000 BTC to address bc1q4uccuzje5y77tajhgguzj3dut0rjkkq6thym8u2xvqhqn4zykrlsfsyhvl as part of its investment in Twenty One Capital (XXI)https://t.co/wTQvbqXNUN
— Paolo Ardoino (@paoloardoino) June 2, 2025
The recent Bitcoin transfers follow a month after the announcement that Twenty One Capital and Cantor Fitzgerald were raising $585 million in capital.
Twenty One Capital Aims to Be Transparent in BTC Reserves
Taking inspiration from Michael Saylor’s strategy of using corporate debt to accumulate Bitcoin, Twenty One Capital has set its sights on acquiring up to 42,000 BTC, positioning itself to become one of the largest corporate holders of Bitcoin globally.
In his statements, Mallers emphasized that the company intends to maintain a level of transparency regarding its Bitcoin holdings by providing proof-of-reserves.
“As Bitcoiners, we hear a lot about how Wall Street has arrived to Bitcoin,” he declared on X last week. “With Twenty One, Bitcoin has arrived on Wall Street.”
Announcing Proof of Reserves for Twenty One
As Bitcoiners, we hear a lot about how Wall Street has arrived to #Bitcoin. With Twenty One, #Bitcoin has arrived on Wall Street.
Don’t trust, verify. pic.twitter.com/johay8PJFI
— Jack Mallers (@jackmallers) May 29, 2025
He further stated that the company will soon release multiple wallet addresses as a means of validating its Bitcoin reserves.
“All these professional economists, they are like Bitcoin is risky and volatile, no it’s not,” Mallers stated during the 2025 Bitcoin Conference in Las Vegas.
Company to Sell $100M in New Convertible Notes to Buy BTC
In a separate revelation last week, Mallers announced that Twenty One Capital plans to issue $100 million in new convertible notes, with the proceeds earmarked for further Bitcoin purchases.
The firm is also poised to go public through a merger with Cantor Equity Partners, a special purpose acquisition company (SPAC). Once finalized, the combined entity is expected to trade on the Nasdaq under the ticker symbol ‘XXI.’
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