Strike CEO Jack Mallers is making a significant move toward Wall Street, announcing plans to take one of his companies public. This development comes after JPMorgan Chase abruptly terminated his bank accounts in September.
Mallers’ firm, Twenty One Capital, has announced a key milestone in its merger with Cantor Equity Partners (CEP), a special purpose acquisition company listed on Nasdaq.
Twenty One Capital to List on NYSE
Twenty One Capital, described as a Bitcoin-native enterprise, is designed to provide investors with exposure to Bitcoin (BTC) through equity markets. Jack Mallers was named the CEO and co-founder of Twenty One Capital in April 2025. The company is backed by Tether and SoftBank and aims to compete with Michael Saylor's MicroStrategy (NASDAQ: MSTR).
At an Extraordinary General Meeting on December 3, CEP’s shareholders approved the proposed business combination between the two companies. This approval marks a significant step in the Bitcoin-native company's initial public offering journey.
Following the final regulatory steps and closing conditions, the merger and accompanying private investment in public equity (PIPE) financings are anticipated to be completed by December 8, 2025.
Once the merger is finalized, the combined company will retain the name Twenty One Capital and is scheduled to begin trading on the New York Stock Exchange under the ticker symbol “XXI” starting December 9, 2025.
Game on. See you at the @NYSE on Tuesday. #Bitcoin pic.twitter.com/oTGPyjyigC
— Jack Mallers (@jackmallers) December 4, 2025
With this strategic move, Twenty One Capital is positioning itself as a Bitcoin-only operating company. Its objective is to deliver long-term shareholder value and establish a capital-efficient vehicle for Bitcoin accumulation. CEP is led by Chairman and CEO Brandon Lutnick and is sponsored by an affiliate of Cantor Fitzgerald, a well-established name in the financial industry.
From Bank Ban to Bitcoin IPO
This significant announcement comes just weeks after Mallers revealed that JPMorgan Chase abruptly closed his accounts in September without providing an explanation.
“Last month, J.P. Morgan Chase threw me out of the bank… Every time I asked them why, they said the same thing: ‘We aren’t allowed to tell you,’”
— Jack Mallers on X, November 23
The closure letter cited "concerning activity" and referenced the Bank Secrecy Act, which effectively barred Mallers from reopening accounts at the bank. This decision drew considerable criticism from the Bitcoin community. Bo Hines, former head of the Trump administration’s Council of Advisers on Digital Assets and now an advisor to Tether (USDT), publicly addressed JPMorgan, stating:
“Hey Chase… you guys know Operation Choke Point is over, right? Just checking.”
Bitcoin Community Pushes Back
Mallers’ banking situation has become a prominent example in what many Bitcoin supporters refer to as "Operation Choke Point 2.0." This term describes an alleged effort by major U.S. banks to marginalize crypto firms through debanking and regulatory pressure.
The controversy follows several months of scrutiny surrounding MSCI’s proposed index rule changes and allegations of discriminatory banking practices directed at crypto-linked businesses.