Tether Proposes Twenty-One Capital Merger With Strike and Elektron
Tether Investments has proposed a series of mergers that would combine Twenty-One Capital with Strike and Bitcoin miner Elektron Energy into a single publicly traded entity. Strike, founded by Jack Mallers, runs a Bitcoin financial services platform available in more than 100 countries, while Elektron operates roughly 50 EH/s of mining capacity, or about 5% of the global network.
Tether said it intends to vote its Twenty-One Capital shares in favor of both mergers and recommends Elektron leader Raphael Zagury serve as president alongside Mallers. If completed, the combined company would bring together Bitcoin treasury, mining, financial services, lending and capital markets on one platform, though transaction terms and timelines are still being worked out.
From the sources (3 posts)
@matthew_sigelNow this is what I'm talking about When I complain about related party transactions in this space
@cointelegraph🚨 JUST IN: Tether Investments proposes merging Strike into Twenty-One Capital, then combining the entity with Bitcoin miner Elektron Energy to accelerate its strategic direction.
@businessTether has proposed that Twenty One Capital merge with Strike, a crypto trading and spending platform, and Elektron Energy, a Bitcoin mining firm