Euron seems to have decimated their forces, and Yara is currently held captive in King’s Landing by the Lannisters, but Theon has rallied what remains of their followers to rescue Yara.
However, the other faction is led by siblings Yara and Theon Greyjoy, who have allied themselves and their followers with House Targaryen.
He’s currently helping Cersei plot to attack Daenerys’ forces with the Golden Company mercenaries. He believes he will marry Cersei and rule Westeros, and thus isn’t all that concerned about the Night King’s invasion. The first faction is led by Lord Reaper of Pyke aka Euron Greyjoy, who has sided with Cersei Lannister in the fight for the Iron Throne. The power that House Greyjoy holds at the moment is totally unstable.
