21 Capital appoints Strike founder Jack Mallers as CEO
ChainCatcher news, according to The Block, Strike founder Jack Mallers will join the new cryptocurrency company Twenty One Capital (21 Capital) as CEO, which is controlled by the stablecoin issuer Tether. The company is also supported by global financial institutions SoftBank Group and Cantor Fitzgerald, and at launch, its treasury will hold $3.6 billion worth of Bitcoin.21 Capital will go public through a merger with Cantor Equity Partners SPAC (Special Purpose Acquisition Company). The company plans to continue increasing its Bitcoin holdings based on its existing reserves, providing institutional investors with a more traditional way to access Bitcoin rather than holding it directly.According to the announcement, 21 Capital will hold over 42,000 Bitcoins at launch, making it the third-largest treasury holding Bitcoin among publicly traded companies, behind Strategy and Mara Holdings. However, many private companies and governments hold far more Bitcoin than this.Mallers, born in Chicago, is an entrepreneur and Bitcoin advocate. In 2020, he founded the payment application Strike based on the Bitcoin Lightning Network, aiming to make BTC a global payment and savings tool. In addition to leading 21 Capital, Mallers also intends to continue his role at Strike.