Tether Consolidates XXI Control with SoftBank Stake Buy; Company Details Bitcoin Services Expansion
XXI sits 39% above its 52-week low of $5.61.
Summary
Tether International has acquired SoftBank's entire 10,500 BTC stake in Twenty One Capital, solidifying its majority control. This follows yesterday's 8-K disclosing SoftBank's divestment. Concurrently, Twenty One Capital detailed its strategic pivot, announcing plans to expand into Bitcoin-focused services like lending, mining, and capital markets. This move provides more clarity on the strategic direction first outlined in the April 30th 8-K. Tether's increased ownership and the company's defined service expansion are significant for XXI, which has faced substantial net losses, including $859.7 million in Q1 2026. Shares rose 4% on the announcement.
At the time of this announcement, XXI was trading at $7.78 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $5.1B. The 52-week trading range was $5.61 to $53.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.