PANews reported on June 6 that Tether announced the appointment of an independent director to the board of Twenty One Capital (XXI) to fill the vacancy on the audit committee following recent board changes. The new director will meet the independence standards of the U.S. Securities and Exchange Commission (SEC) and the New York Stock Exchange (NYSE), restoring the audit committee to its full composition.

The board vacancy stems from Tether's acquisition of SoftBank Group's stake in XXI on May 20th and the termination of the related governance agreement. Following the transaction, SoftBank Group's representatives on the board resigned, and one of them became a member of the audit committee. XXI had already notified the NYSE of the changes in committee composition at the time. XXI was initially positioned as a Bitcoin vault company and currently holds over 43,500 Bitcoins, aiming to build a vertically integrated Bitcoin enterprise encompassing mining, vaulting, capital markets, and financial services.

Tether CEO Paolo Ardoino stated, "XXI is building one of the most important Bitcoin companies in the world, so we have invested a great deal of effort in finding the best candidates who can provide independent and comprehensive oversight for shareholders. Oversight power must match financial strength, and ensuring that directors meet all the requirements of the SEC and NYSE has always been XXI's top priority."