Tether acquires SoftBank's stake in Twenty One Capital to bolster Bitcoin strategy

Tether, the world's largest stablecoin issuer, announced today that its subsidiary, Tether International, has acquired the stake previously held by SoftBank in Twenty One Capital, a publicly listed company with a strategic Bitcoin reserve. With the acquisition, Tether International becomes the controlling shareholder. According to the announcement, SoftBank's board members have resigned from the board as stipulated in the shareholder agreement. Tether stated that the transaction highlights Twenty One Capital's ongoing development in its long-term Bitcoin reserve strategy and that it will expand its support to strengthen this Bitcoin-focused approach.