Tether has bought SoftBank Group’s stake in Twenty One Capital, giving it more control over one of the biggest publicly traded Bitcoin treasury firms.
Tether said it bought SoftBank’s roughly 26% stake, but did not share the financial details. With this change, SoftBank representatives will leave Twenty One Capital’s board. The company, started in 2025 with support from Cantor Fitzgerald and led by Jack Mallers, first focused on Bitcoin treasury operations.
Twenty One Capital now plans to do more than just hold Bitcoin. It will expand into Bitcoin lending, mining, and capital markets services. This change comes as treasury companies face pressure during Bitcoin price swings, which can make it harder to raise money without diluting shareholders.
Shares of Twenty One Capital went up after the announcement, but the stock is still well below its level after its NYSE debut in December. Earlier reports also linked the company to possible merger talks with Strike and Bitcoin miner Elektron Energy.
Tether International Deepens Commitment to Twenty One Capital Through Acquisition of SoftBank’s Stake
Read more: https://t.co/vB1JgtSCAD
— Tether (@tether) May 20, 2026
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