Overview

• Twenty One Capital, formed through Cantor Equity Partners' SPAC, will be seeded with $3 billion in bitcoin contributions from Tether, SoftBank, and Bitfinex.
• The venture is valued at $3.6 billion and will convert bitcoin holdings into equity at a fixed valuation of $85,000 per coin.
• Tether will contribute $1.5 billion in bitcoin, with SoftBank and Bitfinex contributing $900 million and $600 million, respectively.
• The firm is expected to hold over 42,000 bitcoins, making it one of the largest bitcoin treasuries globally, and plans to list on Nasdaq under the symbol 'XXI'.
• While the official announcement is anticipated in the coming weeks, the deal remains subject to final approval and potential adjustments.