How Tether-backed Twenty One plans to rival MicroStrategy
US Commerce Secretary Lutnick’s son, Brandon Lutnick, overtook his father’s asset management company, Cantor Fitzgerald, when his father accepted President Donald Trump’s cabinet appointment. This week, Brandon announced a new competitor to MicroStrategy, Twenty One, led by Tether. Cantor is a major player in the crypto industry because it manages many of the bonds backing Tether’s USDT stablecoin. Howard and Brandon Lutnick have staunchly supported Tether. Yesterday, Cantor Chairman Brandon announced a Tether-controlled bitcoin (BTC) acquisition company involving Tether, SoftBank, and Jack Mallers, the founder of Strike. Mallers will lead the company as CEO. The entities, blessed by the son of a Trump cabinet member, are forming Twenty One (NASDAQ:XXI). XXI is the Roman numeral symbol for 21, a reference to BTC’s 21 million supply limit. Twenty One: Tether-controlled, Jack Mallers-led The company will acquire and manage a large treasury of over 42,000 BTC . ...