Today in crypto, Ripple-tied Evernorth plans a $1 billion listing to build XRP treasury. Jack Dorsey stirred new debate over Bitcoin’s status in the crypto world, and ex–New York Governor Andrew Cuomo is leaning on crypto and AI as key platforms in his NYC mayoral bid.
Ripple-linked Evernorth to go public in $1B SPAC to build massive XRP treasury
Evernorth Holdings, a digital asset company with ties to Ripple Labs, announced plans to go public through a merger with Armada Acquisition Corp. II, a Nasdaq-listed special purpose acquisition company (SPAC), in a move aimed at tapping growing institutional demand for publicly traded digital asset treasury firms.
The transaction is expected to generate more than $1 billion in gross proceeds, including a $200 million investment from Japan’s SBI Holdings, a company with historical ties to SoftBank. Additional backing is expected from Ripple, Pantera Capital, Kraken and GSR, the company said.
Evernorth said the funds will be used to build one of the world’s largest XRP (XRP) treasuries through open-market purchases of the digital asset.
Upon completion of the merger, the combined company is expected to trade on the Nasdaq under the ticker symbol XRPN.
Evernorth CEO Asheesh Birla said the new investment vehicle is designed to “accelerate XRP adoption” amid growing interest in decentralized finance (DeFi), offering investors a public-market avenue to gain exposure to XRP and related digital-asset strategies.
What is Bitcoin if not crypto? Rumored Satoshi Nakamoto weighs in
Jack Dorsey, the creator of Twitter and a strong supporter of Bitcoin, has reignited debate in the crypto community with his latest comments on what BTC truly is.
Dorsey took to X on Sunday to post a brief message stating “Bitcoin is not crypto,” prompting a massive response with more than 4,000 comments.
While some argued that the anonymous BTC creator Satoshi Nakamoto described Bitcoin (BTC) as a “peer-to-peer cryptocurrency” on the Bitcointalk forum back in 2010, Dorsey highlighted the word “currency,” underscoring its monetary roots.
An early Bitcoin adopter himself, Dorsey has long been rumored to have played a role in Bitcoin’s creation. Earlier this year, Seán Murray of deBanked published a list of circumstantial evidence suggesting as much, though it remains unverified.
Dorsey denied being Nakamoto in a 2020 interview with Lex Fridman, stating: “No, and if I were, would I tell you?”
Looking at Bitcoin’s origins, Dorsey said the Bitcoin white paper — the foundational document introducing BTC in 2008 — makes no reference to “crypto,” backing his argument that BTC stands apart from the broader industry.
Instead, the white paper describes Bitcoin as a “purely peer-to-peer version of electronic cash” and an “electronic payment system based on cryptographic proof instead of trust.”
In a Bitcointalk post in July 2010, Satoshi Nakamoto also referred to Bitcoin as a “digital currency using cryptography and a distributed network to replace the need for a trusted central server.”
Andrew Cuomo pitches crypto-fueled comeback in NYC mayoral bid
Former New York governor Andrew Cuomo is reportedly betting big on crypto and AI as part of his bid to return as the city’s next mayor.
The New York City mayoral candidate plans to make NYC “the global hub of the future” by coordinating initiatives across the blockchain, AI and biotech industries and modernizing how the city integrates new technology, the co-host of Crypto in America, Eleanor Terrett, said on Saturday.
Part of this will also involve creating a new chief innovation officer position aimed at attracting more investments and jobs to boost innovation, she said.
An Innovation Council with three advisory committees for crypto, AI and biotech would be formed to “advise on adoption, workforce development, and cutting red tape for these emerging industries,” Terrett added, citing unnamed sources familiar with the matter.
