Tether Acquires Full Control of Twenty One Capital After Buying Out SoftBank Stake

Tether acquired SoftBank's entire stake in Twenty One Capital on May 20, 2026, gaining full control of the company that operates one of the largest public Bitcoin treasuries. Twenty One Capital trades on the NYSE under ticker XXI. The acquisition removed SoftBank's board seats and came after XXI stock fell 84% over several months, positioning the company as Tether's primary public Bitcoin vehicle.

Tether acquisition of SoftBank stake

• ▪Twenty One Capital stock fell 84% over several months prior to May 20, 2026.
• ▪Tether International acquired SoftBank's entire stake in Twenty One Capital on May 20, 2026.
• ▪The acquisition of SoftBank's stake in Twenty One Capital removed SoftBank's board seats.

Twenty One Capital control

• ▪Twenty One Capital is positioned as Tether's primary public Bitcoin vehicle.
• ▪Tether has full control of Twenty One Capital after buying out SoftBank's stake.
• ▪Jack Mallers co-founded Twenty One Capital.

Bitcoin treasury positioning

• ▪Twenty One Capital trades on the New York Stock Exchange under the ticker symbol XXI.
• ▪Twenty One Capital operates one of the largest public Bitcoin treasuries.

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