PANews, July 21: According to Bloomberg, the planned three-way merger among the crypto companies Twenty One Capital, Strike, and Elektron Energy has been terminated. Jack Mallers, CEO of both Twenty One Capital and Strike, has stepped down as CEO of Twenty One Capital, with Raphael Zagury, CEO of Elektron Energy, assuming the role. The report notes that the three companies had previously planned to integrate their operations with support from Tether; now that the deal has fallen through, Zagury will oversee the relevant business lines under Twenty One Capital.
Tether-backed merger of Twenty One Capital, Strike, and Elektron Energy collapses
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Summary
According to on-chain data and PANews, the Tether-backed merger of Twenty One Capital, Strike, and Elektron Energy has collapsed. Jack Mallers, CEO of Twenty One Capital and Strike, has stepped down from the former, with Raphael Zagury, CEO of Elektron Energy, now leading the company. The move follows shifting market sentiment, as the Fear & Greed Index indicates increased investor uncertainty.
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