[Twenty One Capital Receives NYSE Non-Compliance Notice Due to Board Issues]
According to Protos, Bitcoin reserve company Twenty One Capital (Ticker: XXI), controlled by Tether, received a non-compliance notice from the New York Stock Exchange (NYSE) on May 29 due to an insufficient number of independent directors on its audit committee. The company must rectify the issue by June 6, or its stock will be marked with the "BC" warning code on June 9.
The issue arose after Tether acquired 89.1 million Class A shares held by SoftBank on May 19 and canceled the Class B shares, leading to the resignation of two directors appointed by SoftBank and reducing the number of independent members on the audit committee to one.
Currently, the company holds 43,500 BTC, valued at approximately $3.1 billion, with a total market capitalization of less than $2.5 billion. The stock price has dropped more than 83% over the past year.
