Crypto markets tremble as Tether CEO Paolo Ardoino confirms $1.1B Bitcoin transfer

Tether CEO Paolo Ardoino has confirmed the staggering $1.1 billion Bitcoin transaction that rattled the crypto markets this week. In a surprise move, 10,500 BTC—worth over $1,107,371,328—was transferred from Bitfinex’s hot wallet to a new address, sparking immediate speculation.

Now, with Ardoino breaking his silence, the industry has clarity—and a reason to pay attention.

Tether CEO Paolo Ardoino clarified that the transfer is part of a strategic pre-funding for Twenty One Capital (XXI)—a new Bitcoin-centric investment fund backed by Tether, Bitfinex, SoftBank, and other institutional giants.

Tether CEO Paolo Ardoino ends speculation

The confirmation from Tether CEO Paolo Ardoino came just as on-chain analysts noticed a flurry of massive Bitcoin transfers in recent days: 14,000 BTC, 4,812 BTC, 7,000 BTC, and 917 BTC. Combined, these transactions account for 37,229 BTC—nearly $4 billion at current prices.

“These aren’t random whale moves,” Ardoino said in a brief but pointed post on X. “They are structured capital deployments tied to a long-term thesis, not trading speculation.”

Twenty One Capital, or XXI, is shaping up to be one of the most ambitious Bitcoin-focused funds of the year. First revealed in April 2025, the fund is designed around a long-hold strategy, using Bitcoin as a base layer to expand into equity and debt markets.

“This is not just about Bitcoin as a store of value—it’s about using BTC as a reserve asset to anchor new financial architecture,” said Dr. Lisa Ellis, managing director at MoffettNathanson.

Unlike short-term crypto hedge funds, Twenty One Capital aims to replicate the success of MicroStrategy’s Bitcoin play—but with institutional backing from the start and pre-IPO structuring.

According to sources close to the matter, the fund has drawn significant capital from five heavyweight players:

1.Tether, committing $1.5 billion in BTC

2.SoftBank, investing $900 million

3.Bitfinex, allocating $600 million

4.Cantor Fitzgerald, acting as an indirect anchor and supporting the capital formation

5.Brandon Lutnick, son of the U.S. Secretary of Commerce, reportedly leading project operations.

The structure is meant to be both defensive and growth-oriented. Tether’s role is critical, and that’s why Tether CEO Paolo Ardoino’s statement carries weight in aligning these capital flows with a broader Bitcoin narrative.

Institutional signal or hype?

The involvement of Tether CEO Paolo Ardoino in a BTC-backed institutional fund indicates a shifting tone in crypto capital deployment. While most meme coins and altcoins face sell-offs, the quiet movement of billions in Bitcoin shows that major players are positioning for long-term exposure.

“Anytime you see $1 billion moved in BTC with intent, not panic, you should pay attention,” said Jeff Dorman, CIO at Arca. “And when Tether CEO Paolo Ardoino confirms that it’s part of a strategic alignment, it signals a deeper institutional shift toward Bitcoin as collateral.”

With $1.5 billion already deployed and over $550 million in convertible debt and private placements expected, Twenty One Capital is just getting started.

Its pre-IPO structure, similar to how MicroStrategy eventually attracted public market momentum, could see Bitcoin integrated into traditional financial vehicles sooner than expected.

Analysts believe Tether CEO Paolo Ardoino and his partners are laying the groundwork for a new class of Bitcoin-native financial products.