The stock price of Bitcoin company Twenty One Capital, invested by Tether and SoftBank, fell 24% on its first day of trading

The stablecoin giant Tether and SoftBank Group's invested Bitcoin asset reserve company Twenty One Capital saw its stock price plummet on its first day of trading. The company's stock ticker is XXI, and it dropped 24% on Tuesday morning.

Twenty One Capital went public on the New York Stock Exchange through a merger with the special purpose acquisition company Cantor Equity Partners. Twenty One holds 43,514 Bitcoins, valued at approximately $4 billion at current prices. According to data from bitcointreasuries.net, the company is the third-largest corporate holder of Bitcoin, following Michael Saylor's Strategy and Bitcoin mining company MARA Holdings.