Tldr:
- Tether International has appointed an independent director to Twenty One Capital’s board after SoftBank’s exit created a vacancy.
- The new appointee meets SEC Rule 10A-3 and the standards for audit committee independence in NYSE Section 303A.02.
- Twenty One Capital owns over 43,500 bitcoins and is building a vertically integrated bitcoin business model.
- Paolo Ardoino said that the strength of supervision should match the strength of Twenty One Capital’s balance sheet.
Twenty-one capital He was appointed An independent director to its Board of Directors to fill the vacant position on the Audit Committee. The move comes after Tether International acquired SoftBank Group’s stake in the Bitcoin treasury company on May 20, 2026.
The new appointee meets independence standards set by the Securities and Exchange Commission and the New York Stock Exchange. This results in the Audit Committee being completely reconstituted following the governance changes that came with the ownership transition.
Board change follows SoftBank’s exit
The vacancy on the audit committee opened after Tether completed its acquisition Softbank Stake in TwentyOne Capital.
When that deal closed, representatives of SoftBank’s board of directors resigned, including a representative who served on the audit committee. Twenty One Capital immediately notified the NYSE of the change in committee composition at that time.
The newly appointed director is considered independent under Rule 10A-3 of the Securities Act. The designee also meets the requirements described in Section 303A.02 of the NYSE Listed Company Manual.
These two standards are essential to maintaining a compliant audit committee for a publicly listed company.
Paolo Ardoino, CEO of Tether, spoke directly about the appointment, saying: “XXI is the building of one of the most important Bitcoin companies In the world, therefore, we put in a great deal of rigor to find the best candidate.
He added that the goal was to find a director who could provide comprehensive and independent oversight to shareholders over the company’s operations.
The Bitcoin treasury strategy remains centralized
Arduino further noted, “The strength of oversight must be proportional to the strength of the balance sheet.” Noting XXI’s priority of appointing a manager who meets all applicable SEC and NYSE requirements. This standard reflects the amount of responsibility associated with managing a Bitcoin vault of this size.
Twenty-one capital It was founded as a Bitcoin treasury company and currently holds over 43,500 Bitcoin. The company is building a vertically integrated Bitcoin business covering mining, treasury, capital markets and financial services. Governance modernization goes hand in hand with this broader strategic direction.
Tether remains the controlling shareholder of Twenty One Capital through these recent changes. The acquisition of SoftBank’s stake in May deepened rather than diminished Tether’s commitment to the company.
For a company managing assets of this size, maintaining a fully-represented, independent audit committee is an organizational priority, and the latest appointment directly addresses this requirement.
