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Jack Mallers’ XXI Launches on NYSE Backed by Tether and SoftBank
Last Updated: December 10, 2025
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Key Takeaways
- Twenty One Capital debuted on the NYSE as XXI after merging with Cantor Equity Partners, which opened below its previous share price;
- Backed by Tether, Bitfinex, and SoftBank, the firm holds 43,500 Bitcoin, which ranks third among public Bitcoin holders;
- CEO Jack Mallers plans to expand beyond asset holding into Bitcoin-focused ventures like brokerage, exchange, and lending.
Twenty One Capital made its debut on the NYSE using the ticker XXI on December 9 after merging with Cantor Equity Partners.
The SPAC's shares opened at $10.74, below their previous closing price of $14.27. By the next day's close, the stock had dropped to $11.42. This activity resulted in a market capitalization of around $4 billion, based on outstanding shares.
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The chief executive is Jack Mallers, who is also the founder and CEO of the Bitcoin
Currently, the company holds over 43,500 Bitcoin, valued at over $4 billion, which ranks it as the third-largest public company holding Bitcoin, behind MARA Holdings.
Even with these holdings, the firm has not set out a defined business strategy or schedule for launching new services. In a CNBC interview, Mallers said the company operates with a different approach and should not be seen as merely holding assets.
The management plans to build Bitcoin-focused businesses that include brokerage, exchange operations, credit, and lending. Mallers indicated that further information may be shared in the near future.
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