Tether appoints additional independent directors to the Twenty One Capital Board of Directors, restoring the full structure of the Audit Committee

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BlockBeats News, June 6 — Tether announced that it has appointed a new independent director to the board of Twenty One Capital (XXI), the Bitcoin reserve company, to fill the previous vacancy on the audit committee. The company stated that this appointment complies with the independence requirements of U.S. SEC Rule 10A-3 and the New York Stock Exchange listing rules.

This vacancy arose after Tether acquired SoftBank Group’s stake in XXI on May 20, leading to the termination of the governance agreement between the two parties, and the resignation of the SoftBank-appointed director, one of whom was a member of the audit committee.

According to reports, Twenty One Capital currently holds over 43,500 Bitcoin and is positioned as a vertically integrated Bitcoin company, with operations covering Bitcoin mining, asset reserves, capital markets, and financial services.

Tether CEO Paolo Ardoino stated that XXI is building one of the most important Bitcoin enterprises globally, and therefore the company prioritizes ensuring that the board has an independent oversight mechanism that meets SEC and NYSE requirements to match its strong balance sheet.

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