Jack Mallers Exits XXI Capital CEO Role as Tether's Three-Way Bitcoin Merger Collapses

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Jack Mallers has stepped down as CEO of XXI Capital amid the collapse of a planned three-way merger. The deal, orchestrated by Tether, was intended to combine Twenty One Capital, Mallers' payments firm Strike, and Elektron Energy into a single bitcoin-focused entity. The ambitious consolidation plan has now been abandoned entirely. Mallers' departure marks a significant shift in Tether's strategy to build a major unified bitcoin business.

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