Bitcoin Treasury Company 21 Capital Q2 Net Loss: $413.5 million

August 11th, Bitcoin treasury company Twenty One Capital recorded a net loss of $413.5 million in the second quarter, mainly due to a $401.5 million decrease in the value of its held bitcoins.

Twenty One Capital (XXI)’s newly appointed CEO, Raphael Zagury, stated that the Tether-backed company now needs to become a "more than just a Bitcoin treasury" enterprise and unveiled development plans covering M&A, capital markets business, and Bitcoin-collateralized loans.