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Just saw that Twenty One Capital is making moves with a 3-way merger proposal from Tether. Jack Mallers' operation apparently surged after this got announced. Pretty wild how these capital plays shake things up in the space.
The whole thing feels like there's something bigger brewing with these institutional players. Tether being the majority holder and pushing a merger is the kind of move that usually signals some serious consolidation coming. Not sure what the endgame is but it's definitely worth watching how this plays out.
Anyone else following this or am I late to the party on this one? These kinds of backend deals don't always make headlines but they usually matter more than people realize.