Tether International has significantly tightened its control over Twenty One Capital (NYSE: XXI), announcing on Wednesday that it successfully acquired the entirety of SoftBank Group’s equity stake in the Bitcoin-focused enterprise.
While financial terms of the buyout were not officially disclosed, SEC filings indicate the transaction involved the transfer of nearly 89.1 million Class A shares and the cancellation of an equal number of Class B shares. The move functionally terminates the previous multiparty governance agreement, streamlining decision-making power under Tether as the uncontested majority shareholder.
The market responded positively to the structural clarity, with XXI stock climbing 3.15% to $7.86 in pre-market trading on Wednesday morning.
SoftBank’s exit marks the end of its foundational role in XXI. The Japanese technology conglomerate brought vital institutional credibility and discipline during the company’s formative stage. With that foundation now set, Tether aims to aggressively scale XXI’s vision of becoming a comprehensive Bitcoin-native public company. Rather than functioning purely as a passive treasury proxy, XXI is building a unified operational platform that integrates capital-efficient Bitcoin accumulation with active financial services, mining infrastructure, and enterprise lending.
“SoftBank’s involvement gave XXI the kind of institutional depth that few early-stage companies ever have,” stated Paolo Ardoino, CEO of Tether. “They leave behind a company with a stronger foundation, a clearer mandate, and an ambitious path ahead. Tether’s conviction in XXI has only deepened, and we look forward to building on that foundation as the company enters its next chapter.”
