TLDR
- Twenty One Capital (XXI) dropped 20% on its first day of trading Tuesday, closing at $11.42 despite Bitcoin rising 3%
- The company holds 43,514 Bitcoin worth over $4 billion, ranking third among public corporate holders
- CEO Jack Mallers stated Twenty One is not just a treasury company and plans to build revenue-generating businesses in brokerage, credit, and lending
- The firm raised $850 million through convertible notes and equity sales, backed by Teth