Tether, Bitfinex, Cantor and SoftBank to Launch Bitcoin Company With $3.9 Billion Treasury

In a team-up of crypto and TradFi giants, Tether, Bitfinex, Cantor Fitzgerald, and SoftBank Group announced Wednesday that they will team up to launch Twenty One, a publicly traded, Bitcoin-centric company that plans to launch with a treasury of more than 42,000 BTC—or about $3.9 billion worth.

Tether and Bitfinex will be majority owners, with a minority stake owned by investment holding firm SoftBank. Twenty One will be launched through a planned SPAC merger with Cantor Equity Partners, which trades on the Nasdaq under the ticker CEP and is affiliated with financial services firm Cantor Fitzgerald.

In addition to amassing Bitcoin in its treasury, Twenty One aims to provide native Bitcoin lending services and other financial products, along with producing Bitcoin-centric content.

Editor’s note: This story is breaking and will be updated with additional details.