Shares of Bitcoin treasury firm Twenty One fell 20% after its merger with Cantor Equity.

On Tuesday, Twenty One Capital Inc. merged with special purpose acquisition company Cantor Equity Partners Inc. to become the latest cryptocurrency company to go public, with its shares falling 20% on their first day of trading. The Bitcoin treasury opened at $10.74 per share on Tuesday, down from Cantor SPAC's closing price of $14.27.