S&C provides advice to SoftBank Group in creation of first Bitcoin-native public company
SoftBank Group, in collaboration with Tether, has recently unveiled the establishment of Twenty One Capital, the world’s very first Bitcoin-native public company, in conjunction with Cantor Equity Partners. The primary objective behind Twenty One will be to enhance Bitcoin ownership per share, aiming to kick off its operations with a substantial 42,000 BTC at its disposal, positioning it as the third-largest Bitcoin treasury globally.
Upon the finalization of the business merger, Tether, Twenty One’s co-founder, and Bitfinex will have a predominant ownership interest in Twenty One, while SoftBank Group will boast a significant minority stake in the entity. Notably, SoftBank Group is renowned for its penchant for investing in cutting-edge technological ventures, with its all-encompassing portfolio including stakes in various fields such as AI, smart robotics, IoT, telecommunications, internet services, and clean energy technologies. It also holds a controlling interest in Arm and the SoftBank Vision Funds.
Not to be outdone, Tether has carved a niche for itself as a trailblazer in stablecoin technology and takes pride in being the brains behind the most widely used liquid stablecoin worldwide.
On the other hand, Cantor Equity Partners, an SPAC sponsored by a Cantor Fitzgerald affiliate – a revered global financial services and real estate conglomerate, is a crucial collaborator in this strategic business endeavor.
The legal advisory team from S&C on board to guide SoftBank on corporate matters features an ensemble of legal experts comprising Mario Schollmeyer, Matthew Goodman, Courtland Morrice, James Shea, Katy Beeson, and Noah Springer. Additionally, Eric Diamond is spearheading the investment management advisory domain, while Davis Wang, Eli Dubin, and Gregg Rader are spearheading tax-related consultations.
In this transformative move, the operational dynamics underpinning the formation and launching of Twenty One Capital underscore a watershed moment in the domain of cryptocurrency and blockchain technologies. The strategic positioning of the key partners, each bringing their expertise to the table, signals a seismic shift in the landscape of digital assets on the international stage. The amalgamation of SoftBank’s tech prowess, Tether’s groundbreaking stablecoin technology, and Cantor Equity Partners’ financial acumen sets the stage for a new era in the cryptocurrency realm. With a clear focus on maximizing Bitcoin ownership and leveraging pioneering technology, this strategic partnership is poised to revolutionize the contours of the financial landscape as we know it.
