Tether Appoints Independent Director to Twenty One Capital Board After Audit Committee Vacancy

Tether said it has appointed a new independent director to the board of Bitcoin treasury firm Twenty One Capital (XXI) to fill a vacancy on its audit committee, citing compliance with U.S. SEC Securities Exchange Act Rule 10A-3 and New York Stock Exchange independence requirements. According to ChainCatcher, the vacancy arose after a governance agreement ended following Tether’s May 20 acquisition of SoftBank Group’s stake in XXI, which led to the resignation of SoftBank-appointed directors, including an audit committee member. Twenty One Capital said it holds more than 43,500 bitcoin and describes itself as a vertically integrated Bitcoin company with operations spanning mining, asset reserves, capital markets, and financial services. Tether CEO Paolo Ardoino said the company prioritized ensuring the board has independent oversight that meets SEC and NYSE standards.