The collapse of the deal sends XXI shares down 2.06% in pre-market trading at $5.21.
A planned merger between crypto firms Twenty One Capital (XXI), Strike, and Elektron Energy has been terminated. The decision follows discussions among the companies, halting efforts to combine operations in the digital asset sector.
XXI shares fell 2.06% to $5.21 in pre-market trading after the announcement. The deal’s failure marks a setback for consolidation efforts in the crypto industry, which has seen increased M&A activity amid regulatory and market volatility.
No immediate market reaction beyond the share price move was reported.