According to Tether’s official announcement on Wednesday, the company proposed a multi-step merger plan for Twenty One Capital Inc. (NYSE: XXI) combining the bitcoin-focused treasury company with crypto trading platform Strike and bitcoin miner Elektron Energy. Twenty One Capital shares jumped 6.6% in after-hours trading following the announcement, though the stock remains down 15.8% year-to-date since its December 2025 public debut. Tether Investments, the majority shareholder, announced its intention to vote in favor of the proposal.
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