pull down to refresh

The critical point is that Roscoe was a member of the audit committee. His departure reduced the independent members of that committee to just one, whereas the NYSE requires at least two during the post-listing transition period. On May 29, the New York Stock Exchange formally sent Twenty One a non-compliance notification. The company stated it expects to appoint an additional independent audit committee member “promptly”, without specifying, however, who holds the authority to select a sufficiently independent director.
Meanwhile, the company’s financial backdrop is far from favorable. Twenty One holds 43,514 BTC, an asset worth approximately 3.1 billion dollars, yet the entire company’s market capitalization stands below 2.5 billion dollars. The stock has lost more than 83% of its valueover the past twelve months, against a backdrop marked by uncertainty over internal leadership, the arrival of Raphael Zagury — a figure close to Tether — who has taken on many of the responsibilities previously held by Mallers, and the failure to launch the promised commercial operations.

@Scoresby did this Raphael guy show up in your Tether series? Is he shady?

Tether is just taking over!!

I don't know much about him. He certainly is connected with Tether. Zagury was at the center of the Swan/Tether mining endeavor dispute.

Here's an interview with Zagury if you want to hear him talk about Elektron and Tether:

https://www.coindesk.com/podcasts/coindesk-podcast-network/the-blockspace-pod-inside-tether-s-50-eh-s-mining-empire-w-elektron-s-rapha-zagury

(as a side note, I've been trying to get him to do an AMA on SN for some time. No success yet.)

reply
Elektron Energy is supported by long-term, Bitcoin-aligned capital through a strategic partnership with Tether.
  • #1433299 mentions a "Barry" - DCG Barry?
reply
91 sats \ 1 reply \ @Scoresby 2 Jun

Yes. Relevant bits:

Colyer noted that Foundry's parent company, Digital Currency Group, gave him similar long-term latitude under founder Barry Silbert's leadership.

"Barry was very much like, I don't care what happens month to month, quarter to quarter, think in terms of decades," Colyer said. "How's this gonna play out over the next 10 years?"

I can quote post the whole article if that's helpful.

reply

No need, thanks for confirmation.

I find it interesting that we have this growing group of bitcoin-regular executives that pop up in different places nowadays.

reply
193 sats \ 0 replies \ @k00b 2 Jun

He did an episode of What Bitcoin Did when he was still CIO of Swan.

reply