Today, in cryptocurrencies, Evernorth, in partnership with Ripple, plans a $1 billion public offering to build the XRP Treasury. Jack Dorsey has sparked a new debate about Bitcoin’s place in the crypto world, and former New York Governor Andrew Cuomo is relying on cryptocurrencies and AI as a key platform for his New York mayoral campaign.
Ripple-linked Evernorth to go public with $1 billion SPAC to build massive XRP treasury
Ripple Labs-affiliated digital asset firm Evernorth Holdings has announced plans to go public through a merger with Armada Acquisition Corporation II, a Nasdaq-listed special purpose acquisition company (SPAC), in a move aimed at capturing growing institutional demand for publicly traded digital asset treasury companies.
The deal is expected to generate gross proceeds of more than $1 billion, including a $200 million investment from Japan’s SBI Holdings, which has a historical relationship with SoftBank. The company said it expects additional support from Ripple, Pantera Capital, Kraken, and GSR.
Evernorth said the funds will be used to build one of the world’s largest XRP (XRP) vaults through open market purchases of digital assets.
Once the merger is complete, the combined company will trade on the Nasdaq Market under the ticker symbol XRPN.
Evernorth CEO Asheesh Birla said the new investment vehicle is designed to “accelerate the adoption of XRP” amid growing interest in decentralized finance (DeFi) and provides investors with an open market vehicle to gain exposure to XRP and related digital asset strategies.
What is Bitcoin if not a cryptocurrency? Satoshi Nakamoto is rumored to be participating
Twitter founder and Bitcoin strong supporter Jack Dorsey has reignited the debate in the cryptocurrency community with his latest comments on what BTC is.
On Sunday, Dorsey posted a short message to X saying, “Bitcoin is not a virtual currency,” which caused a huge response with over 4,000 comments.
While some claimed that anonymous BTC founder Satoshi Nakamoto described Bitcoin (BTC) as a “peer-to-peer cryptocurrency” on the Bitcointalk forum in 2010, Dorsey emphasized the word “currency” and emphasized its monetary roots.
Dorsey himself was an early adopter of Bitcoin, and has long been rumored to have had a hand in its creation. Earlier this year, deBanked’s Sean Murray published a list of unverified circumstantial evidence suggesting the same thing.
Mr. Dorsey denied being Mr. Nakamoto in a 2020 interview with Rex Fridman, saying, “No, and if I were, would I tell you?”
Looking back at Bitcoin’s origins, Dorsey said there was no mention of “crypto” in the Bitcoin White Paper, the foundational document that introduced BTC in 2008, supporting his argument that BTC stands out from the broader industry.
Instead, the white paper describes Bitcoin as a “pure peer-to-peer version of electronic money” and “an electronic payment system based on cryptographic proof rather than trust.”
In a post on Bitcointalk in July 2010, Satoshi Nakamoto also referred to Bitcoin as “a digital currency that uses encryption and a decentralized network to replace the need for a trusted central server.”
Andrew Cuomo touts crypto-powered comeback in New York mayoral race
Former New York Governor Andrew Cuomo is reportedly betting big on cryptocurrencies and AI as part of his bid to return as the next mayor.
New York mayoral candidates plan to make New York City a “global hub of the future” by coordinating efforts across the blockchain, AI and biotech industries and modernizing how the city integrates new technologies, Crypto in America co-organizer Eleanor Tellet said on Saturday.
Part of this will include the creation of a new chief innovation officer position aimed at attracting more investment and jobs to foster innovation, he said.
“An innovation council has been established with three advisory boards – cryptocurrencies, AI and biotech – to advise on the adoption of these emerging industries, workforce development and red tape elimination,” Terret added, citing anonymous sources familiar with the matter.
