Tether Supplements Governance Puzzle for Its Bitcoin Company.

Tether announces—has appointed a new independent director to the board of its Bitcoin reserve company, Twenty One Capital (XXI), filling the previous vacancy on the audit committee. The company states that this appointment complies with SEC Rule 10A-3 of the Securities Exchange Act and the independence requirements of the NYSE listing rules.
The background of the vacancy—
On May 20,, Tether acquired SoftBank Group's stake in XXI, and the governance agreement between the two parties was terminated. The director appointed by SoftBank resigned, one of whom was a member of the audit committee.
XXI's assets—
Currently holding over 43,500 Bitcoins, positioning itself as a vertically integrated Bitcoin company, with operations covering mining, asset reserves, capital markets, and financial services.
Paolo Ardoino's statement highlights the key point—
XXI is building one of the world's most important Bitcoin enterprises, so it must prioritize ensuring an independent supervisory mechanism on the board that meets SEC and NYSE requirements, aligning with its balance sheet.
Appointing an independent director may seem insignificant, but the signal is very clear—
Tether is laying the groundwork for XXI's compliance and institutionalization. The audit committee, independent directors, NYSE standards—these are fundamental steps for a company to enter mainstream capital markets.
Tether is aiming for a $500 billion valuation, and its Bitcoin company is also assembling a team according to the standards of a listed company.
Every brick in the empire is moving toward compliance.