Swan CEO Cory Klippsten alleges Twenty One Capital is Tether's vehicle for US political influence and describes Mallers' role as ceremonial.
Regulation & Gov ·
Cory Klippsten, CEO of Swan, alleged that Twenty One Capital functions as Tether's U.S. vehicle for directing funds toward political objectives, characterizing the arrangement as a mechanism to "line pockets where needed for political reasons." Klippsten further described the role of an individual associated with Twenty One Capital as ceremonial in nature, suggesting a limited substantive function.
The claim connects Twenty One Capital—an investment firm—to Tether, a major stablecoin issuer, and frames the relationship as serving political influence objectives in the United States. The allegation touches on governance structures and the use of corporate entities for political engagement, though specifics about Twenty One Capital's stated purpose or public disclosures were not detailed in the available material.
No response or counterstatement from Twenty One Capital, Tether, or the individual in question has been reported. The basis for Klippsten's assertions and whether either party disputes the characterization remains unconfirmed.