Jack Mallers Exits Twenty One Capital's $2.9B Bitcoin Treasury

Jack Mallers has officially stepped down as chief executive officer of Twenty One Capital. The company board has appointed director Raphael Zagury as his immediate replacement, bringing an end to Mallers' run at the firm he helped found.

Mallers co founded Twenty One Capital and helped take the company public on the New York Stock Exchange through a merger with Cantor Equity Partners. Under his guidance, the firm quickly grew into a heavy hitter among corporate crypto holders, building a massive stash of Bitcoin currently valued at $2.9 billion.

The leadership shift comes as major firms continue to evaluate their balance sheet strategies. Market observers are now watching closely to see how Zagury will guide Twenty One Capital and whether the firm will keep up its aggressive Bitcoin buying strategy.