TechFlow news, April 24 — According to The Block, Jack Mallers, founder of Strike, will join the new cryptocurrency company Twenty One Capital (21 Capital) as CEO. The company is controlled by stablecoin issuer Tether and also backed by global financial institutions SoftBank Group and Cantor Fitzgerald. At launch, its treasury will hold $3.6 billion worth of bitcoin. 21 Capital will go public through a merger with Cantor Equity Partners SPAC (Special Purpose Acquisition Company).
The company plans to continue accumulating bitcoin on top of its existing reserves, offering institutional investors a more traditional way to gain exposure to bitcoin without holding it directly. According to the announcement, 21 Capital will hold over 42,000 bitcoins at launch, making it the third-largest publicly traded corporate holder of bitcoin, behind Strategy and Mara Holdings. However, many private companies and governments hold significantly larger amounts of bitcoin.
