May 14, 2025

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12:00 am

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Tether buys $500M of Bitcoin

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    Tether entity on Arkham
    Tether entity on Arkham

    Stablecoin giant, Tether, has acquired 4,812 BTC worth $497M as part of their deal with Cantor Equity Partners. The deal, which also involves Softbank and Bitfinex, is a Special Acquisition Company (SPAC) in partnership with US-based financial services firm, Cantor Fitzgerald. Another 31,500 BTC is held with Cantor Equity Partners, which brings their total holdings to 36,312 BTC.

    Transfer of 4,812 BTC from Bitfinex to Tether’s escrow wallet
    Transfer of 4,812 BTC from Bitfinex to Tether’s escrow wallet

    Once financing for the SPAC is completed, it will acquire the Bitcoins from Tether and trade under its new name, Twenty One Capital, in reference to Bitcoin’s hard supply cap of 21 million Bitcoins. The company will operate as a Bitcoin treasury company, with its current holdings already rivalling industry leaders such as Michael Saylor’s Strategy and Bitcoin mining firm, Marathon Digital.

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