Tether has conducted substantial movements of Bitcoin, transferring 37,229.69 BTC, valued around $3.9 billion, to addresses associated with Twenty One Capital. This platform is notable for its initiative to establish Bitcoin-native financial markets. Tether's CEO, Paolo Ardoino, detailed two specific transactions on June 3, amounting to 11,417 BTC, which included a significant transfer of 10,500 BTC linked to SoftBank's investment in the firm. Ardoino confirmed these actions are part of the funding for SoftBank's investment in the Bitcoin platform.
The largest transaction within this series occurred a day prior, where three separate transfers totaled 25,812 BTC, translating to about $2.7 billion. This complex transaction included a significant 7,000 BTC transfer worth over $730 million from Bitfinex as part of its contribution to the firm, in addition to transfers from Tether itself and a pre-funding amount linked to initial equity promotion.
Twenty One Capital's mission focuses on developing infrastructure for capital markets that operate directly on the Bitcoin blockchain, expanding opportunities for lending, custody, and asset issuance. The company plans to go public by merging with Cantor Fitzgerald’s Cantor Equity Partners, which would set its value at $3.6 billion. Remarkably, Twenty One has already secured a position as the third-largest corporate holder of Bitcoin globally, following the likes of Strategy and Bitcoin mining company MARA Holdings.
The recent transfers shed light on contrasting views within the crypto industry about transparency. At the Bitcoin 2025 conference, Michael Saylor, executive chairman of Strategy, criticized the idea of sharing on-chain proof-of-reserves, suggesting it could compromise security for all parties involved. Despite these opinions, blockchain analytics company Arkham Intelligence has claimed to identify the majority of Strategy's Bitcoin holdings on the blockchain, highlighting ongoing tensions about transparency in the industry.
The largest transaction within this series occurred a day prior, where three separate transfers totaled 25,812 BTC, translating to about $2.7 billion. This complex transaction included a significant 7,000 BTC transfer worth over $730 million from Bitfinex as part of its contribution to the firm, in addition to transfers from Tether itself and a pre-funding amount linked to initial equity promotion.
Twenty One Capital's mission focuses on developing infrastructure for capital markets that operate directly on the Bitcoin blockchain, expanding opportunities for lending, custody, and asset issuance. The company plans to go public by merging with Cantor Fitzgerald’s Cantor Equity Partners, which would set its value at $3.6 billion. Remarkably, Twenty One has already secured a position as the third-largest corporate holder of Bitcoin globally, following the likes of Strategy and Bitcoin mining company MARA Holdings.
The recent transfers shed light on contrasting views within the crypto industry about transparency. At the Bitcoin 2025 conference, Michael Saylor, executive chairman of Strategy, criticized the idea of sharing on-chain proof-of-reserves, suggesting it could compromise security for all parties involved. Despite these opinions, blockchain analytics company Arkham Intelligence has claimed to identify the majority of Strategy's Bitcoin holdings on the blockchain, highlighting ongoing tensions about transparency in the industry.
