Bitcoin treasury rout deepens as Jack Mallers’ new firm falls 20% in trading debut

Shares in the highly anticipated Bitcoin treasury firm Twenty One Capital plummeted 20% on its listing debut on Tuesday. Jack Mallers, the plucky Bitcoin evangelist running the venture, vowed in April to best the sector’s biggest Bitcoin buyers, including Michael Saylor’s Strategy and Wall Street titan BlackRock. Tuesday’s double-digit crash on the New York Stock Exchange has since dampened the excitement. The problem? Once invincible, Bitcoin treasury firms such as Twenty One have faced increasing pre ...