Search results for Jack Mallers
Crypto
Strike CEO says bitcoin and AI will cut monetary inefficiency and give humans back time
Jack Mallers, CEO of Strike, said bitcoin and artificial intelligence could help return time to people by reducing inefficiencies caused by poor monetary systems and repetitive labour. He described money as an abstraction of human time and energy and said unstable currency values force individuals to work longer for goals such as buying a home, taking vacations or pursuing artistic interests. His remarks came amid a bitcoin rally and broader macroeconomic concerns over U.S. debt, a weaker dollar and inflation.
Crypto
Twenty One CEO says limits to bitcoin holdings strategy, \'free money\' will not last
Bitcoin investment firm Twenty One Capital is shifting away from a strategy of issuing shares at a premium to its bitcoin holdings and using the proceeds to buy more bitcoin, its new CEO said. Raphael Zagury said the premium should converge toward net asset value as more firms pursue the same approach and warned that “free money” would not last. The company plans to expand operating businesses, develop bitcoin-backed products and build a lending platform, while first-quarter results show no operating revenue and a $10.57 million operating loss.
Crypto
Bitcoin finance platform Strike launches collateralised loan without margin calls
Bitcoin financial services platform Strike has launched a bitcoin-backed loan product that does not trigger margin calls or price-based forced liquidation even if bitcoin prices fall sharply. The product reduces liquidation risk in bear markets but comes with higher interest rates of 10.7 to 14.2 percent, a six-month term and strict repayment requirements. If borrowers miss payments, they must pay within 10 days or contact Strike, or collateral may be liquidated.
