Stablecoin issuer Tether has been confirmed to have transferred approximately 39.2 billion won worth of Bitcoin to an address associated with the Bitcoin-based financial platform 'Twenty One Capital'. This platform is led by Jack Mallers, CEO of Strike, and the transfer appears to be related to pre-funding from major investors such as SoftBank.
Tether CEO Paolo Ardoino disclosed two large Bitcoin transfer records totaling 11,417 BTC, approximately 157 billion won, on X (formerly Twitter) on the 3rd. The first transfer of 10,500 BTC, around 145 billion won, was reportedly used for pre-funding of Twenty One's investment from SoftBank.
Another 917 BTC (approximately 12.6 billion won) was reportedly moved to wallets of convert investors who hold or are expected to hold stakes in Twenty One. This suggests that Tether has embarked on a new experiment using Bitcoin to handle venture capital's initial funding and investor dividend structures.
This transfer is interpreted as part of a strategic investment portfolio targeting the Bitcoin native financial ecosystem, not just a temporary asset movement. Twenty One, led by CEO Mallers who has emphasized on-chain Bitcoin utilization, is showcasing a vision to innovate financial products centered around Bitcoin.
The industry is noting that Tether's move could be part of an effort to integrate Bitcoin as a full-fledged international financial system asset, beyond a simple investment. Particularly with the increasing possibility of Trump's re-election and expectations of crypto-friendly policies, major institutions appear to be strengthening their preliminary strategies.
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