Swan CEO Claims Tether Controls Twenty One for U.S. Political Interests on Thursday

According to Swan Bitcoin CEO Cory Klippsten in a Thursday podcast interview on The Starting Block, Tether effectively controls Twenty One Capital, a publicly traded U.S. bitcoin treasury company, and uses it as a vehicle to advance Tether's American political interests. "It's kind of their U.S. entity for them to do U.S. things and, you know, line pockets where needed for political reasons," Klippsten said, though he provided no evidence to support the claim. Tether did not immediately respond for comment.

Klippsten also characterized Strike founder Jack Mallers' recent departure as CEO of Twenty One as predetermined, calling his role "ceremonial" and primarily aimed at promoting the company's stock. Mallers exited this week as his company Strike withdrew from a proposed merger with Twenty One.