Jack Mallers Quits As Twenty One Capital CEO As Shares Drop 19%
Jack Mallers is stepping down as chief executive officer of Twenty One Capital, triggering a 19% decline in the company’s stock price following a board disagreement over strategic direction.
Mallers will return to Strike full-time, ending a proposed three-way merger with Strike and Elektron Energy that was controlled by Tether. The bitcoin treasury firm’s shares have now lost 91% of their value since reaching an all-time high in May 2025.
From the sources (10 posts)
@coindeskJUST IN: Jack Mallers steps down as Twenty One Capital CEO as Tether's planned three-way merger between Twenty One Capital, Strike, and Elektron Energy collapses.
@coinmarketcapLATEST: ⚡ Jack Mallers has stepped down as CEO of Twenty One Capital to focus on Strike, with Raphael Zagury taking over.
@theblockcoTHE BLOCK: Jack Mallers is stepping down as CEO of Twenty One Capital, the Tether-backed bitcoin operating company he founded. He's returning to Strike full-time as $XXI names Raphael Zagury CEO and says Strike is no longer being considere
@cointelegraph🚨 JUST IN: Tether-backed firms Twenty One Capital, Strike and Elektron Energy scrap their proposed merger, per Bloomberg. Jack Mallers steps down as Twenty One CEO, with Raphael Zagury taking over.
@tftc21BREAKING: Jack Mallers is stepping down as CEO of Twenty One Capital to focus on Strike full-time. Raphael Zagury (Elektron Energy) takes over as CEO. The three-way merger between XXI, Strike, and Elektron is dead — Strike stays indepe
@kalshi_cryptoJUST IN: Jack Mallers steps down as CEO of Twenty One
@bitcoinnewsJUST IN: 🎙️ "I've decided to step down as CEO of Twenty One," says Jack Mallers. 🗨️ "My life's work remains #Bitcoin. My Bitcoin company is Strike. The work continues," @jackmallers adds.
@laurashin🚨 Jack Mallers steps down as Twenty One Capital CEO, leaving to return to Strike after a board disagreement over the company's direction. The Tether-controlled treasury firm's three-way merger with Strike and Elektron is also unraveling.
@laurashinRT @laurashin: 🚨 Jack Mallers steps down as Twenty One Capital CEO, leaving to return to Strike after a board disagreement over the company…
@cryptoroverBREAKING: Bitcoin investment firm Twenty One Capital $XXI crashes 19% today after CEO Jack Mallers resigned. The stock is now down 91% since its all time high in May 2025. If you invested $10,000 in it last year, you'd have just $900 left