Bitcoin treasury firm Twenty One expects to receive an additional 5,800 bitcoin from its main backer, stablecoin issuer Tether.
That would bring the Tether, Softbank Group, and Cantor Fitzgerald joint venture’s total holdings to over 43,500 BTC, according to a Tuesday statement, solidifying Twenty One as “the third-largest corporate Bitcoin treasury in the world.”
Twenty One said it should receive the added bitcoin from Tether ahead of its planned public listing. The firm’s ticker on the Nasdaq will be CEP.
Aiming to follow in the footsteps of Strategy, Tether, along with SoftBank and Cantor, launched Twenty One in April with the plan to go public through a blank-check merger. The company is led by Strike founder Jack Mallers.
The rapid creation of crypto-based treasury companies committed to stockpiling digital assets like bitcoin, ether, and SOL has become one of the most compelling stories across the sector. Companies have been both raising and borrowing capital to accumulate popular cryptocurrencies.
When Twenty One launched, Tether contributed $1.5 billion worth of bitcoin, SoftBank $900 million, and Bitfinex $600 million to fund its initial balance sheet holdings. In May, the firm raised an additional $100 million by selling convertible notes, bringing its total capital raised to $685 million.
“Bitcoin represents more than just a financial asset, it’s a foundational protocol for freedom, transparency, and resilience,” Tether CEO Paolo Ardoino said in Tuesday’s statement. “Twenty One captures that ethos in corporate form. By anchoring its model entirely to Bitcoin, it breaks from legacy financial conventions and points toward a future where value is truly sovereign. This is the kind of vision we’re proud to support.”
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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