The Twenty One Capital, Strike, and Elektron Energy merger backed by $2.1B in Tether credit has been canceled. Jack Mallers resigns, Zagury takes

Jack Mallers resigned as CEO of Twenty One Capital on July 21, 2026. Raphael Zagury takes over as the Bitcoin treasury firm cancels its Strike

The proposed three-way merger between Twenty One Capital, Strike, and Elektron Energy has been abandoned, with Strike no longer participating.

Strike will remain independent after its proposed three-way merger with Twenty One Capital and Elektron Energy was scrapped, Bloomberg reports.

Twenty One Capital named Raphael Zagury CEO, replacing founder Jack Mallers, as Strike exits a Tether-backed three-way merger.

The Twenty One Capital, Strike, and Elektron Energy merger backed by $2.1B in Tether credit has been canceled. Jack Mallers resigns, Zagury takes

Jack Mallers is stepping down as CEO of Tether-backed Twenty One Capital to focus on Strike, with Raphael Zagury named CEO, The Block reported.

Jack Mallers steps down as Twenty One Capital CEO. Raphael Zagury takes over the firms 43,514 BTC treasury.