On June 2, 2025, Tether and Bitfinex transferred Bitcoin valued at approximately $2.7 billion to Twenty One Capital, headed by Jack Mallers, for institutional-grade services development.
The transaction marks a potential shift in Bitcoin market liquidity, fueling discussions about centralized control and public listing ambitions for the new platform.
Tether and Bitfinex’s $2.7 Billion Bitcoin Move Explained
Tether and Bitfinex executed massive Bitcoin transfers amounting to billions, targeting institutional investors. This move underlines their commitment to strengthening Bitcoin’s role in traditional financial markets, collaborating with Twenty One Capital.
Tether’s CEO Paolo Ardoino confirmed that these transactions were part of a pre-funding round for Twenty One Capital’s public debut. Jack Mallers leads the firm, aiming to enhance Bitcoin’s institutional infrastructure.
“Tether Group transferred 4,812.22029710 BTC as pre-funding for the initial convert and equity raise in Twenty One Capital (XXI)” – Paolo Ardoino, CEO, Bitfinex/Tether
Market Reacts to $2.7 Billion Bitcoin Transfer
The transfers generated mixed reactions, with some industry analysts expressing concern over concentrated control. The transactions led to a 15% increase in Bitfinex’s 24-hour BTC trading volume, indicating heightened market activity.
Potential outcomes include increased market volatility and changes in liquidity for trading pairs. Analysts forecast regulatory challenges as the industry navigates new territory with such large-scale treasury activities.
Comparing Past and Present Bitcoin Transactions
Similar past transactions, such as those by MicroStrategy, impacted Bitcoin prices and on-chain activity, but not on this scale or with such coordinated efforts between Tether and Bitfinex.
Experts from Kanalcoin anticipate this could redefine Bitcoin’s role in digital treasury management, emphasizing strategic opportunities and potential pitfalls based on previous large-scale Bitcoin acquisitions.
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