Tether Buys $459 Million in Bitcoin to Fund New BTC Treasury Company
Summary
Twenty One, a new Bitcoin company, will trade on Nasdaq following a SPAC merger with Cantor Equity Partners. Tether purchased 4,812.22 BTC for $458.7 million, which will be sold to Twenty One post-merger at the same price. The company, formed by Tether, Bitfinex, Cantor Fitzgerald, and SoftBank Group, plans to start with over 42,000 Bitcoin, valued at nearly $4.4 billion. The merger and collaboration were announced in April.
