Besides tether's greasy fingers being involved, I dont really see the issue here. As far as I know strike is a profitably run private company that bitcoiners sorta like(as much as anyone can like a KYC exchange). I can understand some people's dislike for the leveraged bitcoin exposure only companies, but the merger with XXI would essentially result in the same company strike, but with a lump of capital behind it. If I recall correctly, that was sorta Jack's goal for XXI, not to make it into leveraged bitcoin equity. Saylor recomended he merge with strike a while ago.

The only real problem I can see is that in certain cases, private companies do a better job at keeping their customers happy, rather than focusing on shareholders, big example being Valve.

Not a fan of the mining company addition though, thats a rough industry.