<\/p>\n
Tether has bought out SoftBank Group\u2019s ownership in the digital-asset treasury company Twenty One Capital, adding to its control over the Bitcoin accumulator as it seeks to merge the firm with two other businesses.<\/p>\n
Tether didn\u2019t disclose how much it had paid for the stake, according to an announcement by the stablecoin company on Tuesday. SoftBank owned approximately 26% of Twenty One\u2019s publicly-listed shares, data compiled by Bloomberg shows, which was worth some $679 million. Tether owned around 45% of the firm prior to the acquisition.<\/p>\n
Last month, Tether proposed that Twenty One merge with Strike, a crypto trading and spending platform, and Elektron Energy, a Bitcoin mining firm, at a time when Twenty One\u2019s main business of investing in Bitcoin has fallen out of favour.<\/p>\n
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CONTINUE READING BELOW<\/p>\n
When the operation was first announced, publicly traded cryptocurrency treasury companies were popular, following the successful playbook of Michael Saylor\u2019s Strategy. After the price of Bitcoin went into decline, though, the shares of many treasury companies dropped even more sharply.<\/p>\n
Tether, SoftBank and an affiliate of Cantor Fitzgerald LP teamed up to create Twenty One in April last year, managing about 42 000 Bitcoin \u2014 or $3.9 billion \u2014 at launch.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Tether #buys #SoftBank #stake #Bitcoin #treasury #firm<\/p>\n","protected":false},"excerpt":{"rendered":"
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