ME News reports that on August 11 (UTC+8), Twenty One Capital (NYSE: XXI), a Bitcoin treasury company backed by Tether, announced its financial results for the second quarter of 2026, recording a net loss of $4.135 billion, primarily driven by a decline in the value of its Bitcoin holdings. The financial report revealed that approximately $4.015 billion of the second-quarter loss stemmed from the reduced book value of its Bitcoin assets. As the company uses Bitcoin as a core asset allocation, fluctuations in BTC price directly impact its financial performance. Newly appointed CEO Raphael Zagury stated that Twenty One Capital cannot remain solely a “Bitcoin treasury company” in the future, but must transition into a broader financial services platform. Zagury outlined the company’s next-phase strategy around three key initiatives: expanding its business footprint through acquisitions; enhancing capital-raising capabilities using capital market instruments; and exploring Bitcoin-backed lending services. (Source: ODAILY)
Tether-backed 21 Capital reports $413.5M net loss for Q2 2026 amid BTC price decline
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Summary
The decline in Bitcoin’s price contributed to a $413.5 million net loss for Twenty One Capital in Q2 2026, with $401.5 million of that loss tied to the drop in Bitcoin’s value. Twenty One Capital, backed by Tether, now plans to transition from a Bitcoin treasury model to a full-scale financial services platform. New CEO Raphael Zagury identified M&A, capital market tools, and Bitcoin-backed lending as key areas for expansion.
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