Tether announced the transfer of 10,500 BTC to SoftBank as part of its pre-funding of the Japanese firm’s stake in Twenty One Capital.
By Godfrey Benjamin
Editor Hamza Tariq
Updated
3 mins read
Stablecoin issuer Tether, has transferred 10,500 Bitcoin BTC $104 816 24h volatility: 0.8% Market cap: $2.08 T Vol. 24h: $24.52 B from Bitfinex’s hot wallet to a new Bitcoin address. The firm’s CEO, Paolo Ardoino, shared a screenshot of the transaction block from Mempool in his latest X post.
Right before the transfer could ignite speculation in the crypto ecosystem, Ardoino clarified that it was part of the pre-funding of SoftBank’s investment in Bitcoin-focused Twenty One Capital (XXI).
Bitcoin is currently at $105,331.39, following a 0.87% increase within the last 24 hours. The Tether transfer is valued at approximately $1.1 billion at this current price.
Based on the transaction details, the receiving address is “bc1qpz…zm5gc,” and its balance as of June 3 is 10,500 BTC. It is worth noting that a series of other Bitcoin transfers have followed since the first 10,500 BTC was delivered.
Tether Group is moving 10500 BTC to address bc1qpzt4m58zzqgp84ktyuj5tz8g8k8ssg2g2d5eeerwhx4gxulqq5mqjzm5gc as part of the pre-funding of SoftBank's investment in Twenty One Capital (XXI)https://t.co/5PmG7w9TQ2
— Paolo Ardoino 🤖 (@paoloardoino) June 3, 2025
Within the last 48 hours, 14,000 BTC, 4,812 BTC, and 7,000 BTC have been sent to new wallets, all linked to the same Twenty One Capital project. SoftBank even moved another 917.47 BTC to a different address linked to the Twenty One Capital pre-funding.
So far, a total of 37,229 BTC, just under $4 billion, has been transferred.
According to Ardoino, the Bitcoin allocation is intended to support and enhance Twenty One Capital’s ongoing operations. Prior to transferring this Bitcoin to SoftBank, both Tether and Bitfinex had already made significant investments in Twenty One Capital.
Together, their combined funding amounted to 25,812 BTC, valued at approximately $2.7 billion. This substantial investment was also moved to a new address associated with Twenty One Capital.
Twenty One Capital is a Bitcoin-driven treasury platform that launched in April. Cantor Fitzgerald’s Chairman Brandon Lutnick is the brain behind the project, which aims to HODL the top coin rather than speculate. iFinex and Tether are equal co-owners of Twenty One Capital, with Strike CEO Jack Mallers named as the head.
The firm intends to have more than 42,000 BTC in its Bitcoin Treasury in its early stages. In mid-May, it scooped up 4,812 BTC for $458.7 million as part of a private investment in public equity (PIPE) deal related to the firm’s ongoing SPAC merger with Cantor Equity Partners. Twenty One Capital will be listed on Nasdaq under the ticker XXI.
As of May 13, its total Bitcoin holdings have grown to 36,312 BTC, with 31,500 BTC from this total held in custody by Cantor Equity Partners on behalf of the company. The company is also looking to follow the business intelligence and software firm’s Strategy in its BTC bets.
Building on this foundation, Twenty One Capital intends to adopt a strategy similar to that of Strategy, which currently holds 580,955 BTC, having recently added 705 BTC through a $75 million purchase.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
