Jul 21, 2026
Twenty One Capital said Jack Mallers stepped down as CEO effective July 20, 2026, to focus on his bitcoin payments company Strike, and its board appointed Raphael Zagury as his successor. Twenty One and Strike also determined that Strike would remain an independent business and would no longer be considered for a combination, while a possible combination with Elektron Energy remains under evaluation.
Tether has proposed merging NYSE-listed bitcoin treasury company Twenty One Capital with Strike and Elektron Energy, with Strike CEO Jack Mallers and Elektron founder Raphael Zagury taking executive roles. Twenty One Capital shares rose on the news.