Home›Crypto›Market Structure›Jack Mallers steps down as CEO of Bitcoin treasury XXI

Jack Mallers steps down as CEO of Bitcoin treasury XXI

Twenty One said Raphael Zagury will lead the NYSE-listed firm, with an emphasis on cash flow generation and capital allocation discipline beyond its Bitcoin holdings.

Reported · Written up by our desk · Market Structure

Bitcoin treasury Twenty One Capital, which trades on the New York Stock Exchange under the ticker XXI, said Jack Mallers has stepped down as CEO after serving for seven months since the company listed.

The firm appointed Raphael Zagury as chief executive officer, with Mallers shifting focus to his Bitcoin payments company, Strike, according to Bitcoin Magazine.

Twenty One said it will pursue an institutional-grade operating company model, judged on cash flow generation and capital allocation rigor rather than only its Bitcoin holdings.

The company is described as the second biggest public Bitcoin treasury, holding 43,514 coins, worth $2.8 billion at today’s prices, and it debuted last year via a SPAC merger with Cantor Equity Partners, a blank check firm affiliated with Cantor Fitzgerald.

Latest closeBitcoin $65,749.44 ▼1.1%

More like this

Sources