Tether-backed Twenty One Capital reports $1.09 billion Q3 net income on bitcoin gains

Twenty One Capital (XXI) reported third-quarter net income of $1.087 billion, almost entirely from $1.093 billion in fair value gains on its bitcoin holdings, according to an SEC filing.The Tether-backed company held 43,514 BTC as of Sept. 30, valued at roughly $83,700 per BTC, plus $102.8 million…