Twenty One Capital named Raphael Zagury CEO effective July 20, replacing Jack Mallers, who stepped down to focus on Strike.
Zagury founded and leads Elektron Energy, a large-scale Bitcoin mining and infrastructure company; he previously held senior roles at Goldman Sachs, Deutsche Bank, Merrill Lynch.
He co-founded One Partners, later co-founded fintech lender OpenCo, serving as CFO during capital raises backed by SoftBank, IFC, LTS Investments.
Zagury resigned from board committees effective July 15, remains a director; Mallers is working with him on the transition.
Strike will remain standalone; a potential combination with Elektron remains under evaluation.
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