AUSTIN, Texas – Tether International, the controlling shareholder of Twenty One Capital, has acquired SoftBank Group's stake in the Bitcoin-focused company.
SoftBank representatives have stepped down from the Board of Directors. Financial terms were not disclosed.
Twenty One Capital is a Bitcoin-native public company combining treasury, mining, financial services, and capital markets. Its strategy focuses on Bitcoin accumulation and recurring revenue.
Shares trade at $7.62, down 84% over the past year, with a $2.64 billion market cap. The company is unprofitable with a loss of $4.42 per share.
SoftBank was involved in the company's formation. Tether now consolidates its position as controlling shareholder.
Twenty One Capital aims to integrate multiple Bitcoin business lines.
