Twenty One Capital, a Bitcoin treasury firm backed by Tether and SoftBank, has raised its total financing to $685 million following a second note sale. The latest round included $100 million in convertible notes. The company, led by Jack Mallers, CEO of Strike, intends to use the funds to increase its Bitcoin holdings, which currently total $3.6 billion in its treasury. Jack Mallers announced that Twenty One Capital will publish a Proof of Reserves, allowing public verification of its Bitcoin holdings. The firm plans to release Bitcoin addresses next week to verify its 36,312 BTC reserves, beginning with 4,812.22 BTC. Mallers stated that anyone in the world can audit and verify the company's Bitcoin reserves without having to trust anybody.