Overview
- Shares of Twenty One Capital (XXI) began trading after its SPAC merger with Cantor Equity Partners and fell about 23–25% to roughly $10.50, near the deal’s $10 PIPE pricing.
- The company controls about 43,500 BTC valued near $4 billion, placing it among the largest public corporate bitcoin treasuries.
- CEO Jack Mallers said the firm plans to keep accumulating bitcoin and to build revenue‑generating businesses focused on lending, capital markets advisory, and educational media.
- Investors can verify the treasury through a public on‑chain proof‑of‑reserves dashboard at xxi.mempool.space.
- The transaction included $486.5 million in senior convertible notes and about $365 million in equity PIPE commitments, with Tether and Bitfinex as majority owners and SoftBank as a minority investor.