Markets Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Bitcoin Treasury Company Twenty On Markets Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Bitcoin Treasury Company Twenty On

Bitcoin Treasury Company Twenty One Drops 25% in NYSE Debut, Trades Near PIPE Pricing of $10

2025/12/09 23:30
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail

Bitcoin Treasury Company Twenty One Drops 25% in NYSE Debut, Trades Near PIPE Pricing of $10

The company is led by Strike CEO Jack Mallers and began trading under the XXI ticker today following its SPAC merger with Cantor Equity Partners.

By James Van Straten|Edited by Stephen Alpher
Updated Dec 9, 2025, 3:42 p.m. Published Dec 9, 2025, 3:30 p.m.

What to know:

  • XXI is down sharply in its first day of trading following its SPAC merger with Cantor Equity Partners.
  • It's the latest in this year's crop of bitcoin treasury companies to see stock performance suffer.
  • Bitcoin is little-changed for the day at $90,900.

Twenty One (XXI) has fallen 25% early in its first day of trading following completion of its SPAC merger with Cantor Equity Partners (CEP). Now trading at about $10.50, the stock is at a level that effectively places the bitcoin native firm near its PIPE pricing of $10.

The company enters the market with the third largest corporate bitcoin treasuries at 43,514 BTC and is backed by Tether, Bitfinex and Strike CEO Jack Mallers (who is also serving as XXI CEO). Its strategy focuses on capital efficient bitcoin accumulation and bitcoin ecosystem services supported by onchain proof of reserves.

XXI’s correction is just the latest for this year's crop of bitcoin treasury companies and follows the debut of Anthony Pompliano’s bitcoin treasury vehicle ProCap BTC (BRR), which completed its own SPAC deal last week. BRR has plunged more than 60% since and now trades at about $3.75, as the PIPE pricing methodology continues to suffer.

The most high profile U.S. listed bitcoin treasury company to fund its vehicle through a PIPE was KindlyMD (NAKA), which now trades at $0.43 and is down 99% from its all time high.

Bitcoin itself is little-changed over the past 24 hours at $90,900.

Jack MallersBitcoin NewsTether

More For You

Protocol Research: GoPlus Security

Commissioned byGoPlus

What to know:

  • As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
  • GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
  • Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
View Full Report

More For You

Ethereum’s P2P Layer Is Improving Just as Institutional ETH Buys Pick Up

Early PeerDAS performance is proof that the Ethereum Foundation can now ship complex networking improvements at scale.

What to know:

  • Ethereum co-founder Vitalik Buterin said that the network is addressing its lack of peer-to-peer networking expertise, highlighting the progress of PeerDAS.
  • PeerDAS, a prototype for Data Availability Sampling, is crucial for Ethereum's scalability and decentralization through sharding.
  • BitMine Immersion Technologies has significantly increased its Ethereum holdings, viewing it as a strategic investment in the network's future scaling capabilities.
Read full story
Latest Crypto News

Ethereum’s P2P Layer Is Improving Just as Institutional ETH Buys Pick Up

Will the ETF Era Usher in the End of Crypto Tribalism?

Most Influential: Don Jr., Eric and Barron Trump

Most Influential: Brandon and Howard Lutnick

Most Influential: Paolo Ardoino

Most Influential: Bo Hines

Top Stories

CoinDesk's Most Influential 2025

Standard Chartered Throws in the Towel on Bullish Bitcoin Forecast

No Direction: Crypto Daybook Americas

IREN Raises $2.3B, Repurchases Debt in Balance Sheet Overhaul

SGX's Crypto Futures Draw New Liquidity, Not Diverted Cash, Exchange's President Says

Crypto Markets Today: Bitcoin Slips Back Toward Danger Zone Ahead of Fed Decision

Sorumluluk Reddi: Bu sitede yeniden yayınlanan makaleler, halka açık platformlardan alınmıştır ve yalnızca bilgilendirme amaçlıdır. MEXC'nin görüşlerini yansıtmayabilir. Tüm hakları telif sahiplerine aittir. Herhangi bir içeriğin üçüncü taraf haklarını ihlal ettiğini düşünüyorsanız, kaldırılması için lütfen [email protected] ile iletişime geçin. MEXC, içeriğin doğruluğu, eksiksizliği veya güncelliği konusunda hiçbir garanti vermez ve sağlanan bilgilere dayalı olarak alınan herhangi bir eylemden sorumlu değildir. İçerik, finansal, yasal veya diğer profesyonel tavsiye niteliğinde değildir ve MEXC tarafından bir tavsiye veya onay olarak değerlendirilmemelidir.

Ayrıca Şunları da Beğenebilirsiniz

XRP Price Prediction: Can Ripple Rally Past $2 Before the End of 2025?

XRP Price Prediction: Can Ripple Rally Past $2 Before the End of 2025?

The post XRP Price Prediction: Can Ripple Rally Past $2 Before the End of 2025? appeared first on Coinpedia Fintech News The XRP price has come under enormous pressure
Paylaş
CoinPedia2025/12/16 19:22
BlackRock boosts AI and US equity exposure in $185 billion models

BlackRock boosts AI and US equity exposure in $185 billion models

The post BlackRock boosts AI and US equity exposure in $185 billion models appeared on BitcoinEthereumNews.com. BlackRock is steering $185 billion worth of model portfolios deeper into US stocks and artificial intelligence. The decision came this week as the asset manager adjusted its entire model suite, increasing its equity allocation and dumping exposure to international developed markets. The firm now sits 2% overweight on stocks, after money moved between several of its biggest exchange-traded funds. This wasn’t a slow shuffle. Billions flowed across multiple ETFs on Tuesday as BlackRock executed the realignment. The iShares S&P 100 ETF (OEF) alone brought in $3.4 billion, the largest single-day haul in its history. The iShares Core S&P 500 ETF (IVV) collected $2.3 billion, while the iShares US Equity Factor Rotation Active ETF (DYNF) added nearly $2 billion. The rebalancing triggered swift inflows and outflows that realigned investor exposure on the back of performance data and macroeconomic outlooks. BlackRock raises equities on strong US earnings The model updates come as BlackRock backs the rally in American stocks, fueled by strong earnings and optimism around rate cuts. In an investment letter obtained by Bloomberg, the firm said US companies have delivered 11% earnings growth since the third quarter of 2024. Meanwhile, earnings across other developed markets barely touched 2%. That gap helped push the decision to drop international holdings in favor of American ones. Michael Gates, lead portfolio manager for BlackRock’s Target Allocation ETF model portfolio suite, said the US market is the only one showing consistency in sales growth, profit delivery, and revisions in analyst forecasts. “The US equity market continues to stand alone in terms of earnings delivery, sales growth and sustainable trends in analyst estimates and revisions,” Michael wrote. He added that non-US developed markets lagged far behind, especially when it came to sales. This week’s changes reflect that position. The move was made ahead of the Federal…
Paylaş
BitcoinEthereumNews2025/09/18 01:44
DMCC and Crypto.com Partner to Explore Blockchain Infrastructure for Physical Commodities

DMCC and Crypto.com Partner to Explore Blockchain Infrastructure for Physical Commodities

The Dubai Multi Commodities Centre and Crypto.com have announced a partnership to explore on-chain infrastructure for physical commodities including gold, energy, and agricultural products. The collaboration brings together one of the world's leading free trade zones with a global cryptocurrency exchange, signaling serious institutional interest in commodity tokenization.
Paylaş
MEXC NEWS2025/12/16 20:46