Twenty One Capital Completes Merger with Cantor Equity Partners
In a significant development, Twenty One Capital, Inc. has finalized a merger with Cantor Equity Partners, Inc. This business combination positions Twenty One’s Class A common stock to begin trading on the New York Stock Exchange, with a ticker symbol “XXI,” starting December 9, 2025.
Twenty One is primarily owned by Tether Investments, a notable player in the stablecoin market, alongside Bitfinex and with a substantial minority share held by SoftBank Group, a major investment holding company.
With more than 43,500 Bitcoins in its treasury, Twenty One ranks as the third-largest Bitcoin holder among public companies. The firm’s strategy integrates these assets into financial services, capital markets advisory, lending, and educational resources to promote Bitcoin’s integration into the global financial landscape.
Jack Mallers, co-founder and CEO, emphasized the value of Bitcoin as a trustworthy currency. He believes the NYSE listing will elevate Bitcoin’s status in global markets and deliver the advantages of Bitcoin businesses to investors.
To support its claims, Twenty One offers verifiable proof of its Bitcoin holdings. The company is geared towards developing a business framework for financial products utilizing Bitcoin, which might include innovative lending models and capital market instruments that align with the decentralized finance ethos.
In addition to its accumulation methods, Twenty One intends to launch Bitcoin-focused operations that generate ongoing revenue and foster relationships with institutional investors. These initiatives will include educational efforts to enhance Bitcoin literacy and offer alternatives to traditional financial services. They aim to create additional revenue channels to fortify Twenty One’s Bitcoin-focused strategy.
This merger also brings a considerable financial component, involving a private investment in equity transaction totaling approximately $486.5 million in senior convertible notes and around $365 million in common stock.
Legal representation during this process included Skadden, LLP for Tether, while Ellenoff Grossman & Schole LLP advised CEP, and Sullivan & Cromwell LLP counseled SoftBank Group. Cantor Fitzgerald & Co. acted as financial advisor to CEP and intermediary agent for the PIPE transactions.
About Twenty One Capital
Twenty One is centered on Bitcoin-related businesses, presenting shareholders with a unique opportunity to engage with Bitcoin through the stock market. With a focus on delivering long-term value, the company aspires to become a prominent avenue for efficient Bitcoin accumulation and business growth.
About Tether
Tether has established itself as a frontrunner in stablecoin technology, aiming to transform the global financial ecosystem. Its mission includes fostering financial inclusion and enhancing communication resilience, thereby aiding economic development for individuals and businesses alike.
About SoftBank Group
SoftBank Group is dedicated to investing in groundbreaking technologies to elevate the quality of life globally. The firm has interests across AI, IoT, telecommunications, and clean energy innovations while holding a controlling stake in Arm, a key player in computing technology.
About Cantor Equity Partners
CEP is a special purpose acquisition company sponsored by an affiliate of Cantor Fitzgerald, which has a longstanding legacy in global financial services and real estate.
This announcement features forward-looking statements as described in U.S. federal securities laws. It encompasses plans and expectations surrounding CEP, Twenty One, and the merger, alongside the anticipated trading commencement on the NYSE. These predictions inherently involve risks and uncertainties that could result in actual events differing from stated expectations.
