On June 2, 2025, Tether and Bitfinex conducted a transfer of Bitcoin valued at approximately $2.7 billion to Twenty One Capital, headed by Jack Mallers.
Explanation of Tether and Bitfinex Transfer
On June 17, 2025, Tether and Bitfinex announced massive Bitcoin transfers targeting institutional investors. Tether CEO Paolo Ardoino confirmed that these transactions were part of a pre-funding round for Twenty One Capital's public debut.
"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 Reaction to Bitcoin Transfer
The transfers generated mixed reactions among industry analysts, with some expressing concerns about 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 foresee 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, affected Bitcoin prices and on-chain activity but not at this scale or with such coordinated efforts between Tether and Bitfinex.
Experts from Kanalcoin anticipate that this could redefine Bitcoin's role in digital treasury management, emphasizing strategic opportunities and potential pitfalls based on previous large-scale Bitcoin acquisitions.
In conclusion, the transfer of Bitcoin by Tether and Bitfinex to Twenty One Capital may significantly impact the market and spark new discussions about control and liquidity in the cryptocurrency space.
