Tether-backed Twenty One, Strike merger plan scrapped: Bloomberg

Strike will remain a standalone company after the proposed three-way merger was scrapped, while Twenty One Capital and Elektron continue discussions, Bloomberg reported.

A proposed merger involving Tether-backed crypto companies Twenty One Capital, Strike and Elektron Energy has reportedly been scrapped.

Jack Mallers will step down as CEO of Twenty One Capital while remaining CEO of Strike, according to Bloomberg.

Strike will continue operating as a standalone company instead of combining with Twenty One Capital. Discussions between Twenty One and Elektron are continuing, Bloomberg reported. Tether holds majority stakes in both companies.

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