SoftBank Exits Twenty One Capital, Handing Tether Control of $679 Million Stake

SoftBank Group sold its entire 26% stake in digital-asset treasury firm Twenty One Capital to Tether.

The transaction involved the transfer of 89.1 million Class A shares to the stablecoin issuer.

SoftBank canceled an equivalent 89.1 million Class B shares as part of the deal.

This move terminates a prior governance agreement and removes SoftBank’s influence over the firm.

Board representatives Jared Roscoe and Vikas J. Parekh resigned from Twenty One Capital following the sale.

Bloomberg data values the divested stake at approximately $679 million.

The acquisition consolidates Tether’s control over the Bitcoin-focused company.