Evernorth Holdings has filed to raise up to $80.7 million through a committed equity facility with Cantor Fitzgerald. The move could provide fresh capital for the company’s XRP treasury strategy. Fresh Funding to Expand XRP Treasury Under the agreement, Evernorth can sell up to 5,218,935 shares of its Class A common stock to CF Principal […]
XAO DAO co-founder Santiago Velez announced that proposal 66 had passed, authorizing the decentralized autonomous organization to deploy 80% of its XRP treasury into Firelight, a DeFi protocol focused on decentralized insurance and yield. The decision would put a large share of the DAO’s XRP holdings to work in a strategy intended to generate returns […]
The shareholders of Armada Acquisition Corp. II are set to vote on September 30 on the proposed business combination, on whether Evernorth will be the next cryptocurrency-related company to become public. A potential approval would clear the last major obstacle before the XRP-focused treasury company can begin trading publicly under the XRPN ticker. Will XRPN […]
The latest SEC filing from the XRP-focused treasury company reveals that the funds will come through convertible senior notes tied directly to the closing of the business combination with Armada Acquisition Corp. II. It also reads that Evernorth has entered into a note purchase agreement on September 11 with NH Investment & Securities, acting as […]
The US Senate failed to advance the Digital Asset Market CLARITY Act on Tuesday, falling short of the 60 votes needed to send the bill toward a final vote. Ripple CEO Brad Garlinghouse says the setback stings, but it won’t change what his company is doing. Garlinghouse Calls the Vote a Missed Opportunity Writing on […]
Swiss-based asset manager 21Shares has outlined its investment case for XRP, citing regulatory clarity, institutional access, growing XRPL utility, and a predictable supply. Nevertheless, it outlined one major risk, which continues to haunt the underlying asset. Why Bullish on XRP? Given Ripple’s years-long battle with the US Securities and Exchange Commission and the favorable outcome […]
XRP Ledger Foundation CTO Denis Angell has suggested that an integration between X Money and XRP could let users move funds from the payments platform into the token and access yield-generating tools on XRPL. His idea goes beyond simply adding crypto payments to X Money, as he sees a possible connection between X’s wallet product […]
All crypto eyes have turned to the two major events next week (and the CPI inflation data on Friday), with some favoring the FOMC meeting, while others put more emphasis on the CLARITY Act vote on September 15. The XRP community appears to be in the second camp, as the countdown to the vote has […]
A Bank for International Settlements (BIS) working paper tests the XRP Ledger (XRPL) as a proof-of-concept for verifying official statistics on-chain, recording cryptographic fingerprints of public datasets that publish in three to five seconds and verify in one to two. The Working Paper No 1374 essentially asks how statistical agencies can give users an independent […]
XRP’s spot trading volume climbed to its highest level since February during August, and the token’s price is now up roughly 8% in the last day to trade near $1.45. The pickup in trading activity landed as the broader crypto market came back to life, with Bitcoin clearing $80,000 for the first time in a […]