Twenty One Capital has purchased $458.7 million worth of Bitcoin

PANews reported on May 14 that according to The Block, Twenty One Capital (stock code CEP), a cryptocurrency investment company backed by Cantor Fitzgerald, Tether and SoftBank, has purchased 4,812 bitcoins worth $458.7 million, the first of the many buy orders the company promised. A securities filing on Tuesday showed that stablecoin issuer Tether completed the purchase shortly after Twenty One Capital was established. The transaction is based on an agreement on the total revenue obtained from the subscription agreement related to the issuance of convertible bonds of the publicly traded entity. This initial allocation, mentioned in the "Initial PIPE Bitcoin" transaction, has been transferred to a wallet controlled by Tether. After the business merger is completed, Tether will sell the batch of Bitcoin to the listed company for US$458.7 million.

Twenty One Capital was established through a merger with Cantor Equity Partners' SPAC. At the time of its establishment, Twenty One Capital held $3.6 billion worth of Bitcoin, becoming the third largest Bitcoin holder among listed companies.