PANews reported on December 10th that, according to Bloomberg, Twenty One Capital Inc. merged with special purpose acquisition company Cantor Equity Partners Inc. on Tuesday to become the latest cryptocurrency company to go public, with its shares falling 20% on their first day of trading. The Bitcoin treasury opened at $10.74 per share on Tuesday, below Cantor SPAC's closing price of $14.27. The stock closed at $11.42, giving the company a market capitalization of approximately $4 billion based on the number of shares outstanding as listed in the filing. Twenty One Capital Inc., a joint venture between Cantor Fitzgerald LP, Tether, and SoftBank, is a Bitcoin company that also plans to focus on building the cryptocurrency's financial infrastructure and create media and educational resources about Bitcoin. Twenty One holds approximately $3.9 billion worth of Bitcoin and will be majority-owned by Tether and Bitfinex, with SoftBank holding a significant minority stake.PANews reported on December 10th that, according to Bloomberg, Twenty One Capital Inc. merged with special purpose acquisition company Cantor Equity Partners Inc. on Tuesday to become the latest cryptocurrency company to go public, with its shares falling 20% on their first day of trading. The Bitcoin treasury opened at $10.74 per share on Tuesday, below Cantor SPAC's closing price of $14.27. The stock closed at $11.42, giving the company a market capitalization of approximately $4 billion based on the number of shares outstanding as listed in the filing. Twenty One Capital Inc., a joint venture between Cantor Fitzgerald LP, Tether, and SoftBank, is a Bitcoin company that also plans to focus on building the cryptocurrency's financial infrastructure and create media and educational resources about Bitcoin. Twenty One holds approximately $3.9 billion worth of Bitcoin and will be majority-owned by Tether and Bitfinex, with SoftBank holding a significant minority stake.
Shares of Bitcoin treasury firm Twenty One fell 20% after its merger with Cantor Equity.
PANews reported on December 10th that, according to Bloomberg, Twenty One Capital Inc. merged with special purpose acquisition company Cantor Equity Partners Inc. on Tuesday to become the latest cryptocurrency company to go public, with its shares falling 20% on their first day of trading. The Bitcoin treasury opened at $10.74 per share on Tuesday, below Cantor SPAC's closing price of $14.27. The stock closed at $11.42, giving the company a market capitalization of approximately $4 billion based on the number of shares outstanding as listed in the filing.
Twenty One Capital Inc., a joint venture between Cantor Fitzgerald LP, Tether, and SoftBank, is a Bitcoin company that also plans to focus on building the cryptocurrency's financial infrastructure and create media and educational resources about Bitcoin. Twenty One holds approximately $3.9 billion worth of Bitcoin and will be majority-owned by Tether and Bitfinex, with SoftBank holding a significant minority stake.
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