Zagury, founder of Elektron Energy, replaces outgoing CEO Jack Mallers effective July 20, 2026.
Twenty One Capital (XXI) announced Raphael Zagury will take over as chief executive officer on July 20, 2026. Zagury, the founder of Elektron Energy, a large-scale Bitcoin mining firm, succeeds Jack Mallers, who is stepping down to focus on expanding Strike.
Mallers had led Twenty One Capital since its inception, overseeing its growth in digital asset management. Zagury’s appointment follows his leadership at Elektron Energy, where he drove expansion in Bitcoin infrastructure.
The transition comes as Twenty One Capital seeks to strengthen its position in the cryptocurrency sector amid evolving regulatory and market conditions.