Tether-backed Twenty One, Strike merger plan scrapped: Bloomberg
Summary
A planned merger between Tether-backed Twenty One Capital, Strike, and Elektron Energy appears to have been abandoned. Jack Mallers will reportedly step down as CEO of Twenty One Capital but remain CEO of Strike, which will continue as a separate company. Talks between Twenty One and Elektron are still ongoing. Tether holds majority stakes in both Twenty One and Strike. Twenty One’s NYSE-traded shares were little changed in premarket trading. The company, launched in 2025 with backing from Tether, Cantor Fitzgerald, and SoftBank, held 43,514 BTC, making it the second-largest corporate Bitcoin holder after Strategy.
