Tether Buys Out SoftBank Stake in Bitcoin Treasury Firm (1)

Tether has bought out SoftBank Group Inc.’s ownership in the digital-asset treasury company Twenty One Capital Inc., adding to its control over the Bitcoin accumulator as it seeks to merge the firm with two other businesses.

Tether didn’t disclose how much it had paid for the stake, according to an announcement by the stablecoin company on Wednesday. SoftBank owned approximately 26% of Twenty One’s publicly-listed shares, data compiled by Bloomberg shows, which was worth some $679 million.

Tether owned around 45% of the firm prior to the acquisition. An affiliate, iFinex Inc., also owned around 17% of the business. ...