This move by Tether has left only one independent director remaining, and they've crossed the compliance red line for NYSE. If they don't add someone before June 5th, they'll directly become BC shares. The stock price has already fallen 83%, yet they're still playing with fire.

Twenty One Capital must resolve the independent director compliance issue before June 5; otherwise, the stock may be flagged as BC by NYSE. The stock price has fallen 83% over the past year. The trigger was the trading on May 19: Tether acquired and canceled 89,106,748 Class A shares held by SoftBank, terminated the governance agreement, and the two directors appointed by SoftBank resigned, leaving only one independent director, violating NYSE's requirement of at least two independent members during the transition period.