Twenty One Capital Faces NYSE Compliance Warning, Must Appoint Audit Committee Members by June 5

According to Protos, Bitcoin treasury firm Twenty One Capital received a formal compliance warning from the New York Stock Exchange, citing insufficient independent directors on its audit committee. The company must complete remediation by June 5; failure to do so will result in a "BC" (below compliance standard) designation effective June 9.

The compliance issue stems from Tether's acquisition of approximately 89.1 million Class A shares previously held by SoftBank and subsequent termination of governance agreements, which prompted the resignation of two SoftBank-appointed board members, including one audit committee member. This left the company with only one independent audit committee member during the transition period, below NYSE requirements. Twenty One Capital stated it will appoint new independent audit committee members promptly.