From Cointelegraph

May 13, 2025 8:29 pm:

Stablecoin issuer Tether purchased $458.7 million in Bitcoin for Twenty One Capital, a Bitcoin investment firm awaiting a SPAC merger with Cantor Equity Partners. Tether’s acquisition totaled 4,812.2 BTC at $95,319 each, bringing Twenty One’s total Bitcoin holdings to 36,312 BTC. Cantor Equity Partners disclosed the transaction to the SEC on May 13.

Twenty One, backed by Tether and Bitfinex, is the third largest corporate Bitcoin holder, trailing only Strategy and MARA Holdings. Twenty One CEO Jack Mallers stated the approval process for the merger is underway, but did not provide a completion date. Cantor Fitzgerald is sponsoring the merger, providing financial advisory services and securing $585 million in funding.

Twenty One aims to surpass Michael Saylor’s Strategy as the top vehicle for capital-efficient Bitcoin exposure. The company promises to offer a “pure play” for investors seeking Bitcoin exposure with Bitcoin-native operations and flexibility for strategic capital raises. Key success metrics will focus on Bitcoin per share instead of traditional earnings per share.

Twenty One plans to acquire 42,000 Bitcoin by launch, with 23,950 BTC coming from Tether, 10,500 BTC from SoftBank, and approximately 7,000 BTC from Bitfinex. Cantor Equity Partners’ share price saw significant fluctuations, rising to $59.73 then dropping back to $29.84. CEP rose 5.2% in after-hours trading following the recent Bitcoin purchase.

Read more at Cointelegraph: Tether buys $459M Bitcoin for Twenty One Capital