Now in Crypto, Ripple-tied Evernorth plans a $1 billion listing to build XRP Treasury. Jack Dorsey has sparked new debate about Bitcoin’s status in the crypto world, and former York governor Andrew Cuomo is leaning on crypto and AI as key platforms in his NYC mayoral bid.
Ripple associated with Evernorth to go public in $1B spac to build massive XRP Treasury
Evernorth Holdings, a digital asset company with ties to Ripple Labs, announced Plan 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 into growing institutional demand for publicly traded Treasury companies.
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 historic 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) Treasures through open-market purchases of digital assets.
Once the merger is completed, 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 the adoption of XRP” amid growing interest in decentralized finance .
What is bitcoin if not crypto? The rumored Satoshi Nakamoto weighs in
Jack Dorsey, the creator of Twitter and a strong supporter of Bitcoin, has reignited the debate in the crypto community In his latest comments on what BTC really is.
Dorsey brought X on Sunday to Post A short message stating “Bitcoin is not crypto,” prompting a massive response with over 4,000 comments.
While some have argued that the anonymous creator of BTC Satoshi Nakamoto Bitcoin described (BTC) as a “peer-to-peer cryptocurrency” on the Bitcointalk Forum in 2010, Dorsey highlighted The word “money,” emphasizing its financial roots.
An early Bitcoin adopter himself, Dorsey has been around for a long time Rumored to have played a role in the creation of Bitcoin. Earlier this year, Seán Murray of Debanked published a list of circumstantial evidence that suggests as much, though it remains unspecified.
Dorsey rejected Being Nakamoto in a 2020 interview with Lex Fridman, saying: “No, and if I were, I would tell you?”
Looking at the origins of Bitcoin, Dorsey said The Bitcoin White Paper – the foundational document that introduced BTC in 2008 – made no reference to “crypto,” supporting his argument that BTC stands apart from the wider industry.
Instead, the white paper describing Bitcoin as a “pure peer-to-peer version of electronic cash” and an “electronic payment system based on cryptographic proof rather than trust.”
In a July 2010 bitcointalk post, Satoshi Nakamoto also specified 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.
New York City mayoral candidate plans to make NYC the “Global Hub of the Future” by coordinating initiatives across Blockchain, AI and Biotech Industries and Modernizing how the city incorporates new technology, Crypto America co-host, Eleanor Terrett, said on Saturday.
Part of this will also involve the creation of a new innovation officer position aimed at attracting more investment and jobs to boost innovation, he said.
An innovation council with three advisory committees for Crypto, AI and Biotech will be formed to “advise adoption, workforce development, and cutting red tape for emerging industries,” Terrett added, citing unnamed sources familiar with the matter.
