Tether and Bitfinex Move $3.9 Billion in Bitcoin
Tether and Bitfinex have moved 37,229.69 Bitcoin, worth around $3.9 billion, to treasury addresses owned by Twenty One Capital, a Bitcoin-native financial platform founded by Jack Mallers, who also serves as CEO of Strike.
Confirmed by Tether CEO Paolo Ardoino
On June 3, Tether CEO Paolo Ardoino confirmed the transaction via a post on X (formerly Twitter). He highlighted two key transfers totaling 11,417 BTC (~$1.2 billion). Notably, one transaction included 10,500 BTC in pre-funding from Japanese conglomerate SoftBank into the Twenty One platform. The second transaction of 917 BTC was distributed to wallets of early equity investors.
Breakdown of Earlier Transfers
The majority of the Bitcoin—25,812 BTC—had been transferred the day before. This included:
- 7,000 BTC from Bitfinex as an investment.
- 14,000 BTC from Tether for operational funding.
- An additional 4,812 BTC (~$500 million) as part of an equity round.
Twenty One Capital’s Vision and Growth
Twenty One Capital aims to build native Bitcoin financial infrastructure including lending, asset issuance, and custody. The company is also planning to go public via a SPAC merger with Cantor Fitzgerald’s Cantor Equity Partners, with a proposed valuation of $3.6 billion.
Now Among the Largest Corporate Bitcoin Holders
Following this massive transfer, Twenty One Capital is now the third-largest corporate holder of Bitcoin globally, trailing only:
- Strategy (formerly MicroStrategy), led by Michael Saylor
- MARA Holdings (Marathon Digital Holdings), a leading Bitcoin mining firm
Strategy’s Transparency Under Scrutiny
Michael Saylor, speaking at the Bitcoin 2025 conference in Las Vegas, stated that proof-of-reserves disclosures may pose risks. Meanwhile, Arkham Intelligence claims to have located 87% of Strategy’s Bitcoin holdings on-chain as of May 29.
Institutional Bitcoin Adoption Reaches New Heights
The surge of high-value Bitcoin transfers, paired with evolving transparency practices, highlights the maturing strategies of institutional crypto adoption. With platforms like Twenty One Capital leading the way, Bitcoin’s place in corporate treasuries is becoming more strategic—and more significant—than ever.
