Tether and Bitfinex Drop 25,000 BTC Bomb on Jack Mallers’ Venture—Here’s Why It Matters

Strike CEO Jack Mallers just got a seismic vote of confidence—or a dangerously leveraged gamble—as Twenty One Capital locks in over 25,000 BTC from crypto giants Tether and Bitfinex. Pre-funding move or desperation play? The market’s watching.

The Bitcoin Backstop

This isn’t pocket change—it’s a $1.5B+ avalanche of institutional-grade conviction (or recklessness, depending who you ask). Mallers’ lightning-focused firm now holds keys to a war chest that could either turbocharge adoption or become the next cautionary tale.

Cynic’s Corner

Because nothing screams ‘healthy ecosystem’ like opaque stablecoin printers bankrolling niche ventures. But hey—when the casino’s chips are digital, why not double down?

The BTC transfers arrive more than a month after Twenty One Capital and Cantor Fitzgerald announced that it was raising $585 million in additional capital at closing.

Twenty One Capital Aims to Be Transparent in BTC Reserves

Inspired by Michael Saylors’s Strategy, which became a market leader by taking on corporate debt to buy Bitcoin, Twenty One aims to amass as much as 42,000 BTC, which would put it among the largest corporate bitcoin holders in the world.

Mallers noted that the company will show proof-of-reserves to keep all its Bitcoin accumulation transparent.

“As Bitcoiners, we hear a lot about how Wall Street has arrived to Bitcoin,” he wrote on X last week. “With Twenty One, Bitcoin has arrived on Wall Street.”

Announcing Proof of Reserves for Twenty One

As Bitcoiners, we hear a lot about how Wall Street has arrived to #Bitcoin. With Twenty One, #Bitcoin has arrived on Wall Street.

Don’t trust, verify. pic.twitter.com/johay8PJFI

The company will be publishing multiple addresses over the next week proving its Bitcoin reserves, he said in another post.

“All these professional economists, they are like Bitcoin is risky and volatile, no it’s not,” said Mallers during the 2025 Bitcoin Conference in Las Vegas.

Company to Sell $100M in New Convertible Notes to Buy BTC

In a separate announcement made last week, Mallers said that the company will sell $100 million in new convertible notes. The proceeds from the sale will go toward buying more Bitcoin, he added.

Twenty One Capital will be going public by merging with a special purpose acquisition company (SPAC), Cantor Equity Partners (CEP). The combined company will trade on the Nasdaq under the symbol ‘XXI’ upon the deal’s closure.