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Twenty One, a new publicly traded Bitcoin company that will trade on the Nasdaq via a planned SPAC merger with Cantor Equity Partners, already has nearly $459 million worth of Bitcoin waiting for its treasury thanks to a purchase made by stablecoin giant Tether.
In an SEC filing Tuesday, Cantor Equity Partners disclosed that Tether—one of the firms collaborating to create Twenty One—purchased 4,812.22 BTC at an average price of $95,319.83 per coin, adding up to $458.7 million worth of Bitcoin. The cryptocurrency will then be sold to Twenty One once the merger is completed, at the same purchase price.
Twenty One, which is being formed through a collaboration between Tether, Bitfinex, Cantor Fitzgerald, and SoftBank Group, plans to launch with a treasury of more than 42,000 Bitcoin, or almost $4.4 billion worth at the current price. The planned merger and collaboration was announced in April.
Editor’s note: This story is breaking and will be updated with additional details.
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