Tether Proposes Strategic Merger to Create Leading Listed Bitcoin Entity

Tether Investments has officially confirmed its intention to vote in favor of merging Twenty One Capital (XXI) with Strike and Elektron, acting as the majority shareholder. Following the announcement of Tether's support, shares of XXI skyrocketed immediately, reflecting intense market enthusiasm for the proposed consolidation. The merger aims to establish a premier Bitcoin company listed on the New York Stock Exchange (NYSE), with Elektron Energy serving as a large-scale mining platform. The proposal includes appointing Raphael Zagury as president, while Jack Mallers of Strike will take a senior executive role to integrate payment and mining infrastructures. This strategic move underscores Tether's expansion beyond stablecoins to dominate the broader cryptocurrency ecosystem. The initiative creates a market powerhouse by unifying specialized digital asset infrastructure under a single, publicly traded entity.