Tether buys SoftBank’s stake in Bitcoin company Twenty One Capital
Tether acquired SoftBank's 26% stake in Bitcoin treasury company Twenty One Capital, expanding its control over the publicly traded Bitcoin holder. The move consolidates ownership as Twenty One Capital pivots beyond pure treasury operations into lending, mining, and capital markets services. XXI shares rose 4% on the news, though remain down 37% since December listing.
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Latest Congressional swing at crypto tax reform would direct IRS to review de minimis exemptions
U.S. lawmakers reintroduced the Parity Act, directing the IRS to study de minimis exemptions for small crypto transactions under $200. The bipartisan bill updates stablecoin tax rules, defines wash-sale treatment, and addresses validator rewards. The crypto industry seeks relief from reporting burdens on minor transactions, arguing it enables everyday crypto payments. Tax clarity remains foundational for institutional adoption.
Crypto custody firm Copper is looking to sell the company for $500 million
Copper, a major crypto custody firm, is seeking a $500 million buyer with Cantor Fitzgerald managing the sale. The company's flagship ClearLoop settlement system, which handles over $50 billion monthly notional trading volume for institutional clients, is its primary asset. The move reflects renewed M&A activity in crypto, though an IPO route now appears less viable amid market conditions.
Minnesota Law Opens Crypto Custody to Banks, Credit Unions — One Credit Union Already Has a Head Start
Minnesota enacted legislation allowing state-chartered banks and credit unions to offer cryptocurrency custody services, effective August 1, 2026. The law establishes regulatory frameworks for digital asset safekeeping and requires institutions to implement cybersecurity protocols and file advance notices. St. Cloud Financial Credit Union already launched its custody vault in March, holding approximately 13.5 Bitcoin for members, positioning community institutions competitively alongside traditional finance.