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Wu Xue learned that Bitcoin reserve and operations company Twenty One Capital (NYSE: XXI) announced the appointment of Elektron Energy founder Raphael Zagury as CEO, effective July 20; the former CEO and Strike founder Jack Mallers will step down and focus on Strike. The company also adjusted its strategy, focusing on its operations business, capital markets, mergers and acquisitions, and Bitcoin-collateralized lending, and emphasized cash flow and prudent capital allocation. Twenty One confirmed that Strike will remain independent and will no longer participate in the previously considered business merger; a potential merger with Bitcoin mining company Elektron Energy is still being assessed, and no final agreement has been signed.