According to The Block, ChainCatcher reports that Jack Mallers, founder of Strike, will join the new cryptocurrency company Twenty One Capital (21 Capital) as CEO, which is controlled by stablecoin issuer Tether. The company is also supported by global financial institutions SoftBank Group and Cantor Fitzgerald, with an initial treasury holding $3.6 billion worth of Bitcoin.
21 Capital will go public by merging with Cantor Equity Partners SPAC. The company plans to continue accumulating Bitcoin on top of its existing reserves, offering institutional investors a more traditional way to engage with Bitcoin without direct ownership.
According to the announcement, 21 Capital will hold over 42,000 BTC at launch, making it the third-largest Bitcoin treasury among publicly traded companies, behind Strategy and Mara Holdings. However, many private companies and governments hold significantly more Bitcoin.
Mallers, a Chicago native, is an entrepreneur and Bitcoin advocate. In 2020, he founded Strike, a payment app based on the Bitcoin Lightning Network, aimed at establishing BTC as a global payment and savings tool. In addition to leading 21 Capital, Mallers also plans to continue his role at Strike.
