Twenty One Capital, led by Jack Mallers and backed by Tether and SoftBank, raised an additional $100 million through convertible notes, bringing their total financing to $685 million. The funds will be used to expand their Bitcoin holdings, which currently includes a significant stockpile from previous purchases and contributions. The company, which will be formed through a SPAC merger with Cantor Equity Partners, aims to augment its position as one of the largest Bitcoin treasuries among public firms.