Tether-Backed Twenty One Capital Debuts With $459M BTC Buy: What’s Next for the Firm

By: coin central|2025/05/14 07:45:04
0
Share
copy
TLDRTwenty One Capital makes first move with a $459 million Bitcoin purchaseTether buys and will transfer 4,812 BTC to Twenty One after mergerCompany will hold over 42,000 BTC placing it among top public holdersLed by Jack Mallers with backing from Tether, Bitfinex and SoftBankBitcoin price nears all-time high as Twenty One prepares Nasdaq debutThe Bitcoin investment firm, Twenty One Capital, made its first move by acquiring 4,812 BTC for $458.7 million. The purchase positions the company among the largest Bitcoin-holding public firms. The deal marks the start of a planned series of acquisitions designed to reinforce its Bitcoin-focused treasury model.BREAKING: Jack Mallers Twenty One Capital acquires 4,812 #Bitcoin worth $458M pic.twitter.com/irYt6olgxa— Marzell (@MarzellCrypto) May 13, 2025The Bitcoin acquisition was conducted through a private investment in public equity (PIPE) transaction. Tether co-founded the firm and initially purchased the BTC and stored it in a secure wallet. Upon closing the merger, Tether will transfer the Bitcoin to Twenty One Capital at the exact purchase price.The company was created via a special-purpose acquisition company (SPAC) merger with Cantor Equity Partners. Twenty One will trade under the ticker “XXI” on Nasdaq once the merger is finalized. Until then, Cantor Equity Partners trades under the symbol “CEP”.$459M Purchase Cements Treasury StrategyTether bought the 4,812 BTC at an average price of $95,319.83 and earmarked it for the upcoming transaction. Once the PIPE deal closes, the coins will be officially transferred to Twenty One Capital. This move underscores the company’s commitment to building a sizable BTC treasury from day one.The PIPE structure includes $385 million in convertible senior secured notes and $200 million in common equity funding. This capital raise provides the financial foundation for Twenty One’s immediate and future Bitcoin acquisitions. Additionally, the firm can raise an extra $100 million in convertible notes within 30 days.Following the transaction, Twenty One Capital will hold over 42,000 BTC valued near $4.4 billion at current market prices. This level places the firm among the top public Bitcoin holders globally.Tether, Bitfinex, and SoftBank Lead FormationTether and its sister company Bitfinex are the majority stakeholders in Twenty One Capital. SoftBank Group holds a minority stake, adding a traditional finance component to the crypto-native entity. The strategic alliance combines stablecoin liquidity, exchange infrastructure, and institutional capital.Jack Mallers, founder of Bitcoin payments firm Strike, leads Twenty One as CEO. Under his leadership, the company aims to offer Bitcoin lending and other crypto-financial services. The firm emphasizes Bitcoin ownership per share as a key performance metric.Twenty One seeks to operate as a Bitcoin-native financial institution. It plans to launch products aligned with Bitcoin’s monetary framework and capital market dynamics. These include lending instruments, structured notes, and Bitcoin-centric corporate services.Bitcoin Market Rebounds as Launch NearsSource: CoinMarketCapBitcoin’s price recently climbed to $104,356.21, just 4% below its all-time high of $108,786. The 24-hour trading volume declined by 19.53%. The upward trend reinforces confidence in Bitcoin’s long-term strength and store-of-value role.With its treasury model and capital structure, Twenty One Capital aims for rapid BTC accumulation. The firm’s first purchase signals aggressive intent and a long-term bullish outlook. Its listing under the ticker XXI will mark a milestone for Bitcoin-focused public companies The post Tether-Backed Twenty One Capital Debuts With $459M BTC Buy: What’s Next for the Firm appeared first on CoinCentral.

You may also like

Why can this institution still grow by 150% when the scale of leading crypto VCs has shrunk significantly?

The merger of the two major payment companies, Bridge and BVNK, establishes their industry position and revenue scale.

Anthropic's $1 trillion, compared to DeepSeek's $100 billion

The capital market has no faith, it only believes in the profit and loss statement.

Geopolitical Risk Persists, Is Bitcoin Becoming a Key Barometer?

Liquidity Still Unleashed, Which Force Will Dictate Pricing

Annualized 11.5%, Wall Street Buzzing: Is MicroStrategy's STRC Bitcoin's Savior or Destroyer?

25M Transaction Volume, 17,204 BTC

An Obscure Open Source AI Tool Alerted on Kelp DAO's $292 million Bug 12 Days Ago

AI Agent could potentially become an additional security layer for DeFi investors.

Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.

The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.


Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.


Simplified Trading Experience: No KYC Required, Opening a Position in Five Steps


Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.


The trading process has been streamlined into five steps:

· Choose the trading asset

· Select long or short

· Input position size and leverage

· Confirm order details

· Confirm and open the position


The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.


Social-Native Trading: Strategy and Execution Completed in the Same Context


Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:

· End-to-end encrypted private groups supporting up to 1024 members

· End-to-end encrypted voice communication

· One-click position sharing

· One-click trade copying


On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.


By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.


Referral Mechanism: Non-institutional users can receive up to 60% fee split


Mixin has also introduced a referral incentive system based on trading behavior:

· Users can join with an invite code

· Up to 60% of trading fees as referral rewards

· Incentive mechanism designed for long-term, sustainable earnings


This model aims to drive user-driven network expansion and organic growth.


Self-Custody Architecture and Built-in Privacy Mechanism


Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:


· Separation of transaction account and asset storage

· User full control over assets

· Platform does not custody user funds

· Built-in privacy mechanisms to reduce data exposure


The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.


A New Path for On-Chain Derivatives


Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.


The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.


Regulatory Background


Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.


This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."


The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.


About Mixin


Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.


Its core capabilities include:

· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations

· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets

· Decentralization: achieving full user control over assets without relying on custodial intermediaries

· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication


Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.


Popular coins

Latest Crypto News

Read more