Last Week’s Announcement
Last week, SoftBank, Tether, Bitfinex, and Cantor Fitzgerald announced the establishment of a Bitcoin financial company named “Twenty One Capital,” which is expected to hold over 42,000 Bitcoins at the time of its opening. In a report to clients on Monday, Bernstein analyst Gautam Chhugani noted that Twenty One will receive $900 million in funding from SoftBank, $1.5 billion from Tether, and $600 million from Bitfinex. The company plans to raise an additional $585 million through a merger with Cantor Equity Partners’ SPAC upon completion of the transaction—$385 million of which will come from convertible notes and $200 million from common equity financing.
Are Stablecoins Primarily Used for Money Laundering? Blockchain Analysis Firm Reports 99% of Stablecoin Transactions Will Be for Legitimate Purposes in 2024.
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