New Twenty One Capital CEO Raphael Zagury laid out five priorities on Tuesday, including operating businesses and Bitcoin-backed lending. The new CEO of Twenty One Capital (NYSE: XXI) Raphael Zagury has announced to shareholders that the Bitcoin treasury firm must grow beyond its balance sheet. That is a real advantage, but if Twenty One is going to be worth owning, it must become more than a Bitcoin treasury,” he said in his letter to shareholders. Fifth, stand up a Bitcoin-backed lending and credit arm, which Zagury said could later manage outside capital if kept conservative and low-leverage. Zagury also committed the firm to backing Bitcoin’s open-source infrastructure and to watching transactions with Tether, its controlling shareholder, closely.