The post XXI Drops 25% After SPAC Merger appeared on BitcoinEthereumNews.com. 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. Source: https://www.coindesk.com/markets/2025/12/09/bitcoin-treasury-company-twenty-one-drops-25-in-nyse-debut-trades-near-pipe-pricing-of-usd10The post XXI Drops 25% After SPAC Merger appeared on BitcoinEthereumNews.com. 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. Source: https://www.coindesk.com/markets/2025/12/09/bitcoin-treasury-company-twenty-one-drops-25-in-nyse-debut-trades-near-pipe-pricing-of-usd10

XXI Drops 25% After SPAC Merger

2025/12/10 11:03

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.

Source: https://www.coindesk.com/markets/2025/12/09/bitcoin-treasury-company-twenty-one-drops-25-in-nyse-debut-trades-near-pipe-pricing-of-usd10

Market Opportunity
Nowchain Logo
Nowchain Price(NOW)
$0.00241
$0.00241$0.00241
-2.03%
USD
Nowchain (NOW) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Liquidations Surge 108% to $665 Million as Bearish Sentiment Dominates

Liquidations Surge 108% to $665 Million as Bearish Sentiment Dominates

The cryptocurrency market experienced a brutal 24-hour period, with liquidations surging 108% to reach $665 million. The spike in forced position closures reflects the violent price action that has characterized recent trading sessions, catching leveraged traders on both sides of the market.
Share
MEXC NEWS2025/12/16 19:30
Tajikistan Imposes Harsh Penalties for Illegal Crypto Mining Linked to Power Theft

Tajikistan Imposes Harsh Penalties for Illegal Crypto Mining Linked to Power Theft

Tajikistan has enacted legislation criminalizing unauthorized cryptocurrency mining operations connected to electricity theft. Violators face fines reaching approximately $8,200 and prison terms of up to 8 years, signaling the government's serious stance against illicit mining activities draining the national power grid.
Share
MEXC NEWS2025/12/16 19:32
Stablecoins Are Booming — And The Fed Thinks They Could Cut Rates

Stablecoins Are Booming — And The Fed Thinks They Could Cut Rates

The post Stablecoins Are Booming — And The Fed Thinks They Could Cut Rates appeared on BitcoinEthereumNews.com. Stablecoins Are Booming — And The Fed Thinks They Could Cut Rates | Bitcoinist.com Sign Up for Our Newsletter! For updates and exclusive offers enter your email. Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he’s a cook and cinephile who’s constantly intrigued by the size of the universe. This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy. I Agree Source: https://bitcoinist.com/stablecoins-are-booming-and-the-fed-thinks-they-could-cut-rates/
Share
BitcoinEthereumNews2025/11/11 05:05