Tether appointed an independent director to XXi; after SoftBank exited, that seat became vacant at exactly the right time, and the compliance approach was handled clearly.

CryptoWorld News reports that Wu said he learned that Tether has announced the appointment of an additional independent director to the board of the Bitcoin treasury company Twenty One Capital (XXi) to fill the vacancy left in the audit committee after recent board changes. The XXi board has determined that the nominee will meet the independence requirements of U.S. Securities and Exchange Commission Rule 10a-3 and NYSE Listed Company Manual Section 303a.02. Tether said that the seat became vacant because the relevant governance agreement was terminated after Tether acquired XXi equity held by SoftBank Group on May 20, and the SoftBank Group representative then withdrew from the XXi board. It is reported that XXi currently holds more than 43,500 BTC.