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Merger Of Bitcoin-Native Entities
Tether said in a press release that it plans to vote in favor of a proposed merger between Twenty One Capital and Bitcoin payments firm Strike, followed by a merger of the combined entities with Elektron Energy, a large-scale Bitcoin mining platform.
“If consummated, the transactions would allow the combined entity to leverage a strong balance sheet, a large-scale profitable operating business, and a financial services division built to spearhead Bitcoin adoption,” Tether said.
Twenty One Capital’s Shares Rise
Twenty One Capital in December as a Bitcoin-native company founded by Jack Mallers, who also serves as the founder and CEO of Strike.
Price Action: Twenty One Capital shares were up 5.11% in overnight trading after closing 1.76% lower at $7.83 during Wednesday’s regular trading session, according to data from Benzinga Pro. Year-to-date, the stock has fallen by over 10%.
At the time of writing, BTC was exchanging hands at $75,745.94, down 1.63% in the last 24 hours
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