Tether Transfers 21,000 Bitcoins to Twenty One Capital

TLDR

• Tether moved 21,000 BTC valued at $2 billion.
• Jack Mallers emphasizes transparency with proof of reserves.
• BTC price increased by 1.5% following the announcement.

Tether and Bitfinex have finalized a considerable Bitcoin transfer to Twenty One Capital. This move involved the transfer of 21,000 Bitcoins (BTC) to designated wallets on June 2, 2025. The transaction is valued at approximately $2 billion, given the current Bitcoin market price.

The official confirmation came from Paolo Ardoino, who acts as both the CEO of Tether and the Chief Technical Officer of Bitfinex. Ardoino shared on social media platform X that Tether had moved 25,812 Bitcoin for the pre-funding of an equity raise in Twenty One Capital.

Key Players Involved

Jack Mallers, CEO of Twenty One Capital, plays a central role in this initiative. He is also known for founding Zap, the parent company of Strike. Recently, Mallers mentioned that the Bitcoin treasury company would demonstrate transparency through proof of reserves.

Additional key players include SoftBank Group, participating as an investor, while Cantor Fitzgerald is part of the business combination strategy. These entities contribute to the evolving structure of Twenty One Capital.

Transaction Details and Timeline

The Bitcoin transfers occurred in multiple phases. On June 2, 2025, Tether Group moved 14,000 BTC to Twenty One Capital. Subsequently, another 4,812 BTC was provided as pre-funding. This cumulative transfer of 21,000 BTC marks the completion of their funding commitment.

Following the announcement, the BTC/USDT trading pair experienced a 1.5% increase, reaching $66,800 by 3:00 PM UTC. This change potentially signals buying interest following the transaction update.

Business Structure and Goals

Twenty One Capital is structured as a Bitcoin treasury company. It emerged from a business combination with Cantor Equity Partners. According to the latest information, the company is slated to begin operations with over 42,000 Bitcoin. Its mission statement emphasizes “maximizing Bitcoin Ownership.”

Transparent operations are prioritized by the company. Jack Mallers has shared digital wallet addresses showcasing proof of reserves. In conjunction, Tether and Bitfinex have committed to transparency by sharing their Bitcoin wallet details.

Market Implications and Related Developments

The scale of this Bitcoin transfer, valued at approximately $2.7 billion, signifies institutional confidence in the cryptocurrency sector. Such substantial involvement from prominent institutions might positively influence market sentiment and Bitcoin’s price stability.

This significant movement predominantly affects Bitcoin (BTC), with observable price movements following the announcement. Furthermore, Tether’s stablecoin USDT indirectly features in this development due to its issuer’s involvement.