Latest news with #TwentyOneCapital
Globe and Mail
5 days ago
- Business
- Globe and Mail
Tether Just Made Twenty One Capital a Bitcoin Powerhouse
$3.9 billion worth of Bitcoin didn't just disappear into cold storage. It went straight into Jack Mallers' hands — or more precisely, his new venture, Twenty One Capital. In just a few days, the platform has gone from under-the-radar to the third-largest corporate holder of Bitcoin globally, now trailing only Strategy (MSTR) and MARA Holdings (MARA). Confident Investing Starts Here: Tether, alongside its sister firm Bitfinex, moved 37,229 BTC across several tracked transactions. Tether's CEO Paolo Ardoino confirmed the activity in real-time, documenting the flow on-chain. Some of the Bitcoin was designated for SoftBank's investment in the venture; the rest supported convertible equity agreements. This wasn't just about stacking sats — it was about cementing a new financial architecture with Bitcoin as the foundation. Build the Future on Bitcoin Rails Twenty One Capital, helmed by Strike founder Mallers, isn't trying to be just another crypto company. It's aiming to rebuild capital markets infrastructure entirely on Bitcoin rails. Lending, custody, asset issuance — all native to Bitcoin. That's the pitch. And now, with $3.9 billion backing it and a planned SPAC merger with Cantor Fitzgerald's Cantor Equity Partners, the runway is wide open. The company is already valued at $3.6 billion before a single product goes mainstream. Back Bitcoin as Infrastructure, Not Just an Asset What makes this move more than just another institutional play is its intent: Tether and Bitfinex aren't simply investing in Bitcoin as an asset — they're backing a future where Bitcoin becomes the infrastructure for financial markets. This shift away from proof-of-stake chains and hybrid models toward pure Bitcoin rails could show that major crypto players are starting to move their money away from speculative tokens and into building real financial systems directly on Bitcoin. While Strategy's Michael Saylor stands firm against on-chain proof-of-reserves, citing security risks, Mallers and company are moving billions in full view. Transparency isn't optional — it's the foundation. Bitcoin Isn't Just a Store of Value The implications ripple far wider than a single firm's wallet size. With these transactions, Twenty One Capital is positioning itself as the institutional layer Bitcoin has long lacked. It's a rebuttal to the notion that serious financial infrastructure can't be built on Bitcoin. And it's a declaration that Bitcoin isn't just a store of value — it's the backbone of the next financial system. This also sets up a showdown of philosophies. While some players hoard BTC and keep their moves private, Mallers is building a fortress in the open. The capital is public. The intent is aggressive. And the message is clear: Bitcoin doesn't need Wall Street's blessing. It needs builders who speak its language. At the time of writing, Bitcoin is sitting at $106,649.65.
Bloomberg
29-05-2025
- Business
- Bloomberg
Jack Mallers Aims to One-Up Michael Saylor With Tether and Cantor's Help
Until recently, Jack Mallers was probably best known outside the hardcore crypto community for bursting into tears in 2021 while announcing that Bitcoin would be legal tender in El Salvador during the industry's largest conference in Miami. Now, four years later, Mallers is returning to the center stage at Bitcoin 2025 in Las Vegas on Thursday as the co-founder and chief executive officer of one of the most talked-about ventures in the digital asset world — Twenty One Capital Inc., an amalgamation of some of crypto and Wall Street's deepest-pocketed players, who are coming together to accumulate Bitcoin.
Yahoo
22-05-2025
- Business
- Yahoo
Bitcoin Hits New Record High, Surging to $109.4K
Bitcoin BTC clinched a fresh record price of $109,400, surpassing the peak in January around Donald Trump's to the CoinDesk Bitcoin Index, the largest and oldest cryptocurrency hit $109,486 on Wednesday during the early U.S. session. BTC surged more than 46% from its April trough induced by mounting freas over global trade war and U.S. tariffs. The new all-time high came as spot bitcoin exchange traded funds (ETF) gobbled up $3.6 billion in net inflows in May, a sign of rejuvenated investor interest. A slew of bitcoin-focused treasury companies, including Michael Saylor's Strategy and newly-launched firm Twenty One Capital added to the buying spree, helping lift BTC to a new record. Positive regulatory shifts in the U.S. have further supported the market, lending legitimacy of digital assets as an asset class for investors. The U.S. Senate this week advanced a bill to regulate stablecoins while several states and sovereign nations are moving forward with legislation to create bitcoin reserves. Analysts suggested that the current rally is more sustainable than previous ones, citing favorable financial conditions, stablecoin flows and lack of speculative fervor observed in earlier peaks, showing signs of a stronger in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Mayor
13-05-2025
- Business
- Business Mayor
Jack Mallers' Twenty One Capital And Tether Bought 4,812 Bitcoin For $458,700,000
Today, Cantor Equity Partners, Inc. revealed in a new filing with the SEC that Tether bought 4,812.2 Bitcoin for a total of $458.7 million on behalf of Jack Mallers' recently launched Bitcoin treasury company, Twenty One Capital, which plans to eventually go public under the ticker $XXI. 'Pursuant to the Business Combination Agreement, Tether agreed that within ten (10) business days thereof, it would purchase a number of Bitcoin equal to an aggregate purchase price of $458,700,000,' Cantor stated in the filing. 'With the Convertible Notes PIPE, entered into on April 22, 2025 by Pubco and the Company with certain investors, less a holdback amount of $52,000,000), and place such Bitcoin in a digital wallet held or operated by or on behalf of Tether. Tether is holding the Bitcoin in a digital wallet, which anyone can view the holdings online here, showcasing further transparency into their holdings similar to how some spot Bitcoin ETF issuers and other public corporations, such as Bitwise and Metaplanet, have done with their holdings. 'The Initial PIPE Bitcoin will be sold by Tether to Pubco at the closing of the transactions contemplated by the Business Combination Agreement upon the funding of the PIPE Investments by the PIPE Investors for a purchase price of $458,700,000,' the filing further stated. Cantor Equity Partners Inc., currently trading under the ticker CEP, is now live in the markets as it works toward completing its merger with Twenty One Capital. CEO Jack Mallers recently emphasized the firm's aggressive Bitcoin acquisition strategy, stating: 'We do intend to raise as much capital as we possibly can to acquire Bitcoin… We will never have Bitcoin per share negative. At least that is our intent. Our intent is to make sure when you are a shareholder of Twenty One that you are getting wealthier in Bitcoin terms.' Read More BTC Funding Rate Swings as Market Seeks Direction - CoinDesk At launch, the company will hold over 42,000 Bitcoin, instantly making it one of the largest corporate holders of BTC worldwide—only behind industry giants like Strategy. In an also recent interview, Jack Mallers described Twenty One Capital's mission clearly: 'We want to be the ultimate vehicle for the capital markets to participate in Bitcoin…building on top of Bitcoin. So we are a Bitcoin business at our core. It's our founding, it's in our name, it's on our board, it's at our leadership.' READ SOURCE
Bloomberg
07-05-2025
- Business
- Bloomberg
Raising Debt to Buy Crypto Doesn't Work as Well as It Used To
The success of Michael Saylor's fundraising playbook for Strategy is causing trouble for its imitators, as the market for the convertible bonds they are using to fund Bitcoin buys is getting tighter — and a rival with heavyweight backers is about to start pumping out its own paper. Twenty One Capital Inc., a Bitcoin treasury firm that counts stablecoin issuer Tether Holdings SA and SoftBank Group Corp. among its investors, plans to issue convertible bonds once it closes its merger with blank-check firm Cantor Equity Partners Inc., and will launch with more than 42,000 Bitcoin, worth roughly $4 billion at current prices. The company even included a term sheet for the convertibles in its investor presentation.
