Published Aug 11, 2026, 10:29 AM ET · Updated 3 months ago · 2 sources
THE BLOCK: Twenty One Capital posted a $413.5 million Q2 net loss, mostly driven by a $401.5 million decline in the value of its bitcoin holdings. $XXI New CEO Raphael Zagury says the Tether-backed firm now needs to become "more than a Bitcoin treasury," laying out plans spanning acquisitions, capital markets and bitcoin-backed lending.
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THE BLOCK: Twenty One Capital posted a $413.5 million Q2 net loss, mostly driven by a $401.5 million decline in the value of its bitcoin holdings. $XXI New CEO Raphael Zagury says the Tether-backed firm now needs to become "more than a Bitcoin treasury," laying out plans spanning acquisitions, capital markets and bitcoin-backed lending.