Tether has moved approximately $1.1 billion worth of Bitcoin, and the Tether CEO has revealed the background. This fund movement was confirmed to be part of pre-funding for SoftBank's Twenty-One Capital (XXI) investment.
10,500 BTC (approximately 1.5 trillion won) was transferred from Bitfinex's hot wallet to a new Bitcoin address. Tether's CEO Paolo Ardoino stated that this transaction is for SoftBank's Twenty-One Capital investment.
In the past 48 hours, large-scale Bitcoin transactions have continued, including 14,000 BTC, 4,812 BTC, 7,000 BTC, and 917 BTC. A total of 37,229 BTC (approximately 5.1 trillion won) was moved, all of which are related to the same project.
Twenty-One Capital is a Bitcoin-centered investment fund that first emerged in April. It focuses on asset preservation rather than speculation and pursues a strategy of expanding from Bitcoin to stock and bond markets.
The main participants of this fund are Tether, Bitfinex, and SoftBank. Cantor Fitzgerald is also indirectly supporting capital raising. It is known that Brendan Rootnik, the son of the US Secretary of Commerce, is leading the project.
According to internal sources, Tether plans to contribute $1.5 billion, SoftBank $900 million, and Bitfinex $600 million. They plan to raise an additional $550 million through convertible bonds and private investments.
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