Jack Mallers' Twenty One Capital surges after majority holder Tether proposes 3-way merger
CoinDesk
Twenty One Capital shares rose 8% after majority shareholder Tether proposed a merger with Strike and Elektron Energy to create an integrated Bitcoin platform.Summary
Shares of Twenty One Capital (XXI) climbed over 8% following a proposal from majority shareholder Tether Investments to merge the firm with Jack Mallers' Strike and the bitcoin mining company Elektron Energy. This strategic combination aims to transform XXI into a premier listed Bitcoin entity by integrating treasury management, mining operations, and financial services under one platform. Under the proposal, Elektron Energy lead Raphael Zagury would serve as President, collaborating with Mallers to transition the company from a pure treasury-focused firm to an operational business model with recurring revenue capabilities.
(Source：CoinDesk)