As reported by Coinrise, shares of Twenty One Capital (XXI) fell nearly 20% on its first full day of trading after merging with blank check firm Cantor Equity Partners. The stock opened at $10.74 and closed at $11.42, with a post-market rise to $11.67, giving the company a $4 billion market cap. Despite backing from Tether, Bitfinex, and SoftBank, and holding over 43,500 BTC, CEO Jack Mallers emphasized the firm's goal to build a cash-generating business beyond its Bitcoin treasury.
Twenty One Capital Shares Drop 20% on Debut Amid Bitcoin-Focused Strategy
CoinriseShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.