Overview
- Began trading Tuesday on the NYSE under the ticker XXI after completing its business combination with Cantor Equity Partners.
- Shifted more than 43,500 BTC from third-party custody to escrow/self-custody ahead of the debut and updated proof-of-reserves at xxi.mempool.space.
- Bitcoin briefly slipped below $90,000 as traders assessed the transfer and social-media estimates of roughly $1.5 billion in unrealized losses at the firm.
- Executives say the transfer was an IPO step to enhance transparency, with no confirmation of any planned asset sale.
- Tether Investments and Bitfinex hold a majority stake, SoftBank is a minority investor, and the deal included $486.5 million in convertibles plus about $365 million in PIPE financing that the company plans to deploy into Bitcoin-focused operations and additional BTC.