Crypto funds experienced over $1 billion in outflows as geopolitical tensions between the US and Iran led to a risk-off sentiment. Meanwhile, Tether expanded its influence by acquiring SoftBank's stake in Twenty One Capital, and Bernstein highlighted Bitcoin miners' strategic role in AI infrastructure.
Tether buys SoftBank's 26% stake in Twenty One Capital, a Bitcoin treasury company, deepening its influence as the firm expands into lending, mining, and capital markets.
Tether has fully acquired SoftBank's stake in Twenty One Capital (XXI), a Bitcoin-buying firm. SoftBank's departure led to the resignation of its board members and left XXI temporarily non-compliant with NYSE rules. The deal consolidates Tether's control over the venture.
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Tether, majority shareholder of Twenty One Capital, proposed a three-way merger with Bitcoin payments company Strike and Bitcoin mining firm Elektron Energy. Shares of Twenty One Capital jumped 6.6% in after-hours trading to $8.35, after closing down 1.7% at $7.83. The combined company would integrate Strike's financial services platform with Elektron's mining infrastructure. Twenty One Capital holds 43,514 Bitcoin, second only to Strategy Inc. which holds 818,334 BTC.
