Rapha Zagury: Tether's Bitcoin Empire, Taking Over XXI and What Comes Next

When Jack Mallers stepped down from Twenty One Capital (XXI), Rapha Zagury stepped in as CEO. A Wall Street veteran who ran trading desks at Merrill Lynch, Rapha later co-founded Elektron, the Tether-backed Bitcoin mining operation that grew into one of the largest mining companies in the world.

Now he joins me to explain what comes next for XXI — and to answer some of the biggest questions surrounding Tether. We discuss:

• How much of XXI Tether actually owns — and what it wants to build next
• Whether Tether's biggest critics are asking the right questions
• Why XXI is trying to become much more than a Bitcoin treasury company
• Whether Elektron will be absorbed into XXI
• What really happened at Ocean during the BIP 110 controversy

Follow Rapha Zagury on X https://x.com/RaphaZagury

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Disclaimer: The News Block and Coin Stories are for educational and entertainment purposes only and do not constitute financial, investment, legal, or tax advice. Natalie Brunell is not a financial advisor. Some content may include sponsorships or paid partnerships, which are disclosed. Always do your own research and consult a licensed professional before making financial decisions. Bitcoin and digital assets are volatile — never invest more than you can afford to lose.

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Natalie Brunell's content features conversations with leading voices in Bitcoin, economics, finance, and technology, exploring the future of money and how it impacts our lives.

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This podcast is for informational and educational purposes only and does not constitute financial or investment advice. Guest views are their own and do not necessarily reflect those of Natalie Brunell or the show. Paid partnerships, sponsorships, and affiliate relationships are disclosed where applicable. Natalie Brunell may earn commissions from purchases or sign-ups through certain links, at no additional cost to you. Always conduct your own research before making financial decisions.