$2B Bitcoin Power Move: Tether and Bitfinex Fuel Twenty One Capital’s Crypto War Chest
Stablecoin giant Tether and crypto exchange Bitfinex just executed a $2 billion Bitcoin transfer—completing the funding round for hedge fund Twenty One Capital. No banks, no paperwork, just pure crypto muscle.
When traditional finance moves at the speed of dial-up, crypto settles in minutes. The transaction underscores how institutional players now bypass legacy systems entirely—while regulators scramble to keep up.
Another day, another nine-figure deal settled without permission slips from the suits. The future of finance isn’t coming—it’s already here, and it’s powered by Bitcoin.
Venture structure and broader deal
Reports on April 23that Cantor Fitzgerald planned to launch a $3 billion digital asset platform called Twenty One Capital, with a Bitcoin seeding from its founding partners.
An April 24 announcementTwenty One Capital as a bitcoin vehicle for capital markets to access BTC. The firm’s lead is Jack Mallers, CEO of Strike, who will guide both companies.
The deal’s framework consisted of Tether supplying roughly $1.5 billion in BTC, SoftBank adding $900 million, and Bitfinex providing $600 million.
The venture also intends to raise an additional $550 million, divided into $350 million through convertible senior secured notes and $200 million in private equity, to finance further Bitcoin purchases. Copper and Anchorage Digital will handle custody and collateral.
June 2 transfers MOVE the parties closer to closing the private-investment-in-public-equity financing tied to the Cantor special purpose acquisition company (SPAC) merger.
The private investment in public equity (PIPE) allocates $385 million in convertible notes and $200 million in common equity, with an option for an extra $100 million in notes within 30 days of the initial deal.
Net proceeds target further Bitcoin acquisitions and operating capital for Twenty One, which aims to offer bitcoin-backed financing products to institutional clients.
SoftBank has yet to publish wallet details for its planned contribution, and Twenty One still must finalize regulatory approvals for the business-combination transaction.
