Markets
Hot Gossip:
- Tether Investments, the ultimate wingman, has proposed a steamy 3-way merger between Twenty One Capital (XXI), Strike, and Elektron Energy. Because why have one when you can have three?
- If this crypto ménage à trois goes through, XXI will basically become the Beyoncé of Bitcoin: treasury, mining, financial services, lending, and capital markets all under one glittery roof.
- XXI shares are up 8% in after-market trading. Someone’s clearly excited about this throuple.
So, Twenty One Capital (XXI) is having a moment. Like, a big moment. The kind where your shares jump 8% in after-hours trading because Tether Investments is like, “Hey, let’s merge you with Strike and Elektron Energy.” And XXI’s like, “Sure, why not? I’m feeling spicy.”
Tether, the stablecoin overlord, is all in. They’re voting their shares in favor of this crypto love triangle, according to a press release that’s basically a romantic novel. Jack Mallers, the CEO of XXI and Strike, is probably high-fiving himself right now. Or maybe he’s just busy being the Bitcoin kingpin he’s always dreamed of being.
The press release is dripping with ambition: “If completed, these transactions would position XXI to become the premier listed Bitcoin company in the world.” Translation: “We’re about to be the coolest kid in the crypto playground.”
No timelines were disclosed, because why rush a good thing? Especially when you’re busy trying to figure out how to merge three companies without anyone spilling their coffee.
Enter Raphael Zagury, the mining maestro behind Elektron Energy. He’s managing 5% of Bitcoin’s computing power with costs under $60,000 per bitcoin. Tether’s like, “You’re hired. Be the President of this hot mess.” And honestly? He’s probably the only one who can keep this circus running.
XXI went public last December via a SPAC merger, because of course it did. It started as a bitcoin treasury firm with 43,514 BTC, backed by Tether, Bitfinex, and Mallers himself. Their original plan? “Capital-efficient bitcoin accumulation.” Which is just a fancy way of saying, “We’re hoarding Bitcoin like it’s the apocalypse.”
But now? Now they’re expanding. Because why stop at hoarding when you can also mine, lend, and basically take over the world? The press release puts it elegantly: “The combined transactions would move XXI beyond treasury exposure alone and toward a platform with operating businesses, recurring revenue opportunities, and long-term Bitcoin accumulation capabilities.” Or, as I like to call it, “World domination, one Bitcoin at a time.”
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2026-04-30 01:20