Wu Shuo learned that Tether Holdings’ Bitcoin reserve and operating company, Twenty One Capital (NYSE: XXI), announced the appointment of Raphael Zagury, founder of Elektron Energy, 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, prioritizing its operating business, capital markets, mergers and acquisitions, and bitcoin collateralized lending, emphasizing cash flow and prudent capital allocation. Twenty One confirmed that Strike will remain independent and will no longer participate in a business merger previously considered; a potential merger with bitcoin mining company Elektron Energy is still under evaluation, and no final agreement has been signed yet.

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