Jack Mallers leaves Twenty One as Strike exits Tether’s three-way bitcoin merger

60-second summary

Jack Mallers is stepping down as CEO of Twenty One Capital, replaced by Raphael Zagury, while Strike is exiting a three-way merger backed by Tether, a major stablecoin issuer. The merger involved a combined entity with Bitcoin, but Strike's withdrawal leaves the future of the project uncertain, potentially impacting the broader cryptocurrency market's stability and growth.