Twenty One Capital Q2 net loss due to the devaluation of bitcoin to $413.5 million

On 11 August, the encryption company Twenty One Capital announced a net loss of $413.5 million for the second quarter, mainly due to the reduction in the value of bitcoin held by it of $401.5 million. The new CEO, Raphael Zagury, stated that the company, supported by Tether, now needed to move beyond the “bitcoon treasury” and set out strategic planning to cover acquisitions, capital markets and Bitcoin mortgages。