Strike CEO Jack Mallers Announces Lending Proof-of-Reserves, Volatility-Proof Loans, and Backs Tether Merger Plan

Strike CEO Jack Mallers unveiled product and strategic moves at Bitcoin 2026 that could boost bitcoin demand and industry consolidation. Strike launched lending proof-of-reserves (on-chain segregated collateral) and a Tether-partnered “volatility-proof” bitcoin-backed loan to reduce forced liquidations, and secured a $2.1 billion credit facility to scale lending. Mallers also backed Tether Investments’ proposal to merge Strike with Twenty-One Capital and miner Elektron Energy (which runs ~50 EH/s, ~5% of the network), aiming to combine treasury, mining, lending and capital markets under one listed platform. He framed the plan as filling a market gap between high conviction and high operating income with a product- and M&A-driven strategy. These moves increase transparency, capital capacity and potential on‑balance-sheet bitcoin demand — broadly bullish for bitcoin exposure and the firms involved.