Tether appoints an independent director to the Twenty One Capital board of directors to fill the vacancy in the audit committee

Deep Tide TechFlow News, June 6th, according to an announcement on the Tether official website, Twenty One Capital (XXI)'s majority shareholder Tether International, S.A. de C.V. announced today that it has appointed a full-time independent director to the XXI board of directors. The XXI board has determined that this appointment meets the independence standards of Rule 10A-3 of the U.S. Securities and Exchange Commission (SEC) Exchange Act and Section 303A.02 of the New York Stock Exchange (NYSE) Listed Company Manual, restoring the full structure of XXI's audit committee.

This vacancy arose from a transaction on May 20th. At that time, Tether acquired shares of XXI held by SoftBank Group, resulting in the termination of the relevant governance agreement, and SoftBank Group's representatives on the XXI board (including an audit committee member) resigned.

Tether CEO Paolo Ardoino stated that XXI is building one of the most important Bitcoin companies globally, and therefore requires a high standard of independent oversight. Originally established as a Bitcoin treasury company, XXI currently holds over 43,500 Bitcoins, with the vision of building a vertically integrated Bitcoin business encompassing mining, treasury, capital markets, and financial services.