BTC Treasury companies really are going to zero!

Homepage > News > Editorial > BTC Treasury companies really are going to zero! The views expressed in this article are those of the author and do not necessarily reflect the position of CoinGeek. Jack Mallers quit on a Monday. Mallers exits as treasury bet falters After years, the market catches up Who really controls the boardroom? The premium driving Bitcoin treasuries On July 21, 2026, the founding CEO of Twenty One Capital (NASDAQ: XXI) stepped down effective immediately, handing the company over to Raphael Zagury, who also runs Elektron Energy. The official story is a strategy dispute: Mallers wanted to build cash-flowing BTC businesses, and the board wanted a pure treasury vehicle. A vault with a ticker symbol. Vaults produce nothing, and the market has finally noticed. His farewell was gracious, and its last line was a confession: “Strike is where I carry it forward.” The founder of one of the largest BTC treasury companies on Earth just told you the mission lives somewhere else. The same day, CoinDesk reported that Tether’s plan to merge Twenty One, Strike, and Elektron Energy into one grand bitcoin conglomerate had collapsed, with Strike staying independent. XXI f...