Twenty One Capital appoints Raphael Zagury as CEO; drops Strike acquisition, still evaluating Elektron

Twenty One Capital, Inc.

Jack Mallers resigns as CEO and director effective July 20, 2026; receives separation package including $1.15M share repurchase and 1.5M vested options.
Raphael Zagury appointed CEO effective July 20, 2026; base salary $600K, bonus up to $700K, plus equity award to be determined.
Company confirms it is no longer pursuing acquisition of Strike; potential combination with Elektron Energy remains under evaluation.
Zagury is founder/CEO of Elektron Enterprises, which manages Elektron Energy; any future acquisition would be a related-party transaction.
Board committee changes: Zagury resigns from all committees; Lyons, Lalljie, Olsoni appointed; new committee compensation approved.

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