Twenty One Capital CEO Says $1.09 Billion Quarterly Profit Came From Bitcoin, Not Business

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• Twenty One Capital Chief Executive Rapha Zagury informed shareholders that the company's third-quarter net income of $1.09 billion stemmed from fair-value gains on its holdings of 43,514 Bitcoin, rather than operational performance.
• The firm's 10-Q filing revealed a loss of $186.5 million over nine months alongside the absence of a binding agreement for Elektron.

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