Twenty One Capital posts $414M Q2 net loss on BTC value decline

Twenty One Capital (XXI), a U.S.-listed Bitcoin accumulation company, posted a second-quarter net loss of $414 million, The Block reported. Of that, $401.5 million was tied to a decline in the value of its BTC holdings. The report said the company’s large Bitcoin position as a core asset left earnings directly exposed to price swings. CEO Raphael Zagury said Twenty One Capital now plans to expand into mergers and acquisitions, capital markets businesses, and BTC-backed lending.