Mallers' Departure Triggers Corporate Reorganization at Twenty One Capital
Jack Mallers recently stepped down as CEO of Twenty One Capital in mid-July 2026 to focus on his company Strike.
The resignation occurred after the price of Bitcoin corrected by nearly 50% from its all-time high, which it reached in May 2025.
Mallers published an essay titled 'The Last Honest Market' following his departure, where he discussed the lessons he learned from the bear market and how volatility acts as a transmission mechanism for technical and financial information about operational failures.
The corporate reorganization at Twenty One Capital involved the cancellation of its proposed merger with Elektron Energy and Strike's integration into the holding structure, which is now cancelled. Strike will continue to operate independently under Mallers' leadership.