Twenty One Capital expects to receive 5,800 Bitcoin from Tether ahead of listing

Published 29/07/2025, 14:24
© Reuters.

Twenty One Capital Inc. announced it expects to receive approximately 5,800 additional Bitcoin from Tether at the closing of its business combination with Cantor Equity Partners Inc. (CEP), bringing the company’s total Bitcoin holdings to over 43,500.

The acquisition would position Twenty One as holding what it describes as the third-largest corporate Bitcoin treasury globally, with Bitcoin acquired at a blended average cost of $87,280.37 per coin. Upon listing, each share is expected to represent approximately 12,559 satoshis.

The additional Bitcoin stems from Tether’s purchase of 1,381 Bitcoin under June subscription agreements and a pre-existing obligation to purchase 4,422 Bitcoin under the business combination agreement with CEP.

Twenty One plans to introduce a Bitcoin Per Share (BPS) performance metric to track the amount of Bitcoin each share represents. The company intends to hold its Bitcoin on-balance-sheet as part of its treasury strategy, with custody handled transparently on-chain.

"We believe Bitcoin deserves a public company worthy of its ethos," said Jack Mallers, co-founder and CEO of Twenty One. "Twenty One is a new kind of public company: built on Bitcoin, backed with proof, and driven by a vision to reshape the global financial system."

At closing, Twenty One will be majority-owned by Tether and Bitfinex, with SoftBank Group Corp. holding a significant minority stake. The remainder will be held by PIPE investors, public shareholders of CEP, and Cantor Fitzgerald.

Twenty One has submitted a confidential draft registration statement on Form S-4 with the Securities and Exchange Commission and seeks to trade under ticker symbol "XXI." The business combination remains subject to customary closing conditions, including CEP shareholder approval.

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