Archive · 9 Dec 2025
Twenty One Capital Shares Plunge 24% Post-Merger
Twenty One Capital, a company that holds a lot of Bitcoin, recently merged with Cantor Equity Partners and started trading on the stock market.
On its first day of trading, the company's shares dropped by 24%.
This happened because the overall market for crypto-related stocks is not doing well.
Bitcoin prices have been falling, and other similar companies have also seen their stock prices go down.
Twenty One Capital is backed by big names like Tether, Bitfinex, and SoftBank Group.
The company's CEO is Jack Mallers, who is also the founder of Strike, a digital payments company.
Despite the drop, Twenty One Capital holds a significant amount of Bitcoin, worth about $3.9 billion.
Twenty One Capital's shares dropped 24% in their trading debut on December 9, 2024, following a merger with Cantor Equity Partners.
The company is now trading under the ticker “XXI” on the New York Stock Exchange (NYSE).
Shares opened at $10.74, below the Cantor SPAC’s closing price of $14.27, and are currently trading at $11.02.
Twenty One Capital is backed by Tether, Bitfinex, and SoftBank Group, with Jack Mallers as its CEO.
The company holds around $3.9 billion worth of Bitcoin, which exceeds its current valuation.
- Who
- Twenty One Capital, a Bitcoin treasury company, and Cantor Equity Partners Inc.
- What
- A 24% drop in shares following their merger and public listing.
- When
- December 9, 2024.
- Where
- New York Stock Exchange (NYSE).
- Why
- Challenging market conditions for crypto-related stocks and the company going public at a time of declining Bitcoin prices and mixed IPO results.
- Company
- Twenty One Capital
- Merger Partner
- Cantor Equity Partners Inc.
- Trading Debut
- December 9, 2024
- Opening Price
- $10.74
- Current Price
- $11.02
- Bitcoin Holdings
- $3.9 billion
- Major Backers
- Tether, Bitfinex, SoftBank Group
- CEO
- Jack Mallers