Twenty One Capital Moves 43,500 BTC Pre-IPO Amid $1.5 Billion Loss

Twenty One Capital, founded by Jack Mallers, is preparing to go public in the US with an initial public offering (IPO) planned for December 9.
The company has moved 43,500 BTC, approximately worth $4.5 billion, into an escrow wallet ahead of the IPO.
This action has raised concerns about a potential sell-off, which may affect Bitcoin's price stability as it hovers around the $90,000 support level.
Currently, Twenty One Capital is experiencing a $1.5 billion loss on its Bitcoin investments, prompting fears of a broader market impact.
Jack Mallers explained that the Bitcoin transfer is part of preparations for the IPO and involves transitioning BTC from third-party custody to a self-custody account.
The firm aims to compete with major players like Michael Saylor’s company in the Bitcoin treasury sector.
A business merger with CEP was approved on December 3, facilitating the company's NYSE listing under the ticker "XXI."
Twenty One Capital plans to focus on Bitcoin-related ventures, providing shareholders opportunities to gain Bitcoin exposure through equity markets.
Amid these developments, Jack Mallers disclosed that JPMorgan Chase closed his accounts in September without explanation, citing "concerning activity" and the Bank Secrecy Act.