Bitcoin Treasury Company Twenty One Drops 25% in NYSE Debut, Trades Near PIPE Pricing of $10

Jack Mallers, CEO of Twenty One Capital, has announced an aggressive strategy to acquire Bitcoin, aligning with a growing trend among firms to adopt BTC treasury strategies. This initiative comes as the company prepares for its public debut on the New York Stock Exchange (NYSE) following a successful merger with Cantor Equity Partners.

Jack Mallers’ Twenty One Capital has officially launched on the New York Stock Exchange (NYSE), pledging to acquire as much Bitcoin as possible. This move comes as the company aims to establish itself in the cryptocurrency market, backed by a substantial Bitcoin treasury valued at approximately $4 billion.

Twenty One, a cryptocurrency firm backed by SoftBank, is set to begin trading on the New York Stock Exchange (NYSE) today, with a substantial treasury of over 43,500 Bitcoin. This debut is anticipated to enhance Bitcoin's legitimacy in global markets, potentially attracting more institutional investors and increasing overall adoption.

Twenty One Capital, a significant player in the Bitcoin treasury sector, has transferred 43,500 BTC, valued at approximately $4.5 billion, into an escrow wallet ahead of its public debut on December 9. This move has raised concerns about a potential sell-off that could exert downward pressure on Bitcoin's price, which is currently trying to maintain support above $90,000.

JPMorgan CEO's recent comments highlighted the bank's practice of debanking individuals across the political spectrum, including Democrats and Republicans. This statement follows the closure of accounts belonging to Jack Mallers, CEO of Strike, who accused JPMorgan of terminating his accounts without explanation, raising concerns about the bank's treatment of cryptocurrency-related clients.