SoftBank Group, in partnership with Tether, announced the formation of Twenty One Capital, the first Bitcoin-native public company, in a business combination with Cantor Equity Partners. Twenty One will be built to maximize Bitcoin ownership per share and plans to launch with 42,000 BTC, making it the third-largest Bitcoin treasury in the world.
At the closing of the business combination, Twenty One will be majority-owned by Tether, co-founder of Twenty One, and Bitfinex, with significant minority ownership by SoftBank Group.
The SoftBank Group invests in breakthrough technology and is comprised of SoftBank Group Corp.—an investment holding company that includes stakes in AI, smart robotics, IoT, telecommunications, internet services and clean energy technology providers—as well as a majority stake in Arm and the SoftBank Vision Funds.
Tether is a pioneer in stablecoin technology and the creator of the largest liquid stablecoin in the industry.
Cantor Equity Partners is a special-purpose acquisition company sponsored by an affiliate of Cantor Fitzgerald, a leading global financial services and real estate services holding company.
The S&C team advising SoftBank on corporate matters includes Mario Schollmeyer, Matthew Goodman, Courtland Morrice, James Shea, Katy Beeson and Noah Springer. Eric Diamond is advising on investment management matters. Davis Wang, Eli Dubin and Gregg Rader are advising on tax matters.