Tether buys out SoftBank's stake in Twenty One Capital as XXI shares jump 5.6%!

Tether International has acquired SoftBank's entire stake in Twenty One Capital (XXI), the Bitcoin treasury company announced Wednesday. SoftBank's representatives stepped down from Twenty One's board upon closing, per the firm's shareholder agreement. XXI shares climbed 5.6% to $8.05 in pre-market trading on the news.

Tether CEO Paolo Ardoino credited SoftBank's early involvement for giving XXI rare institutional depth during its formation, but framed the exit as a natural transition: the company now has "a stronger foundation, a clearer mandate, and an ambitious path ahead." Tether called XXI "one of the most important opportunities to build a public company around Bitcoin from the ground up."

The move deepens Tether's control over the second-largest public Bitcoin holder, which currently holds 43,514 BTC — worth roughly $33.7 billion — trailing only Michael Saylor's Strategy at…