SPAC
Evernorth announces SPAC deal for $1 billion XRP treasury
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Evernorth Holdings, a newly formed Nevada company, has signed a business combination agreement with Armada Acquisition Corp II to go public on Nasdaq under the ticker XRPN. The deal aims to raise over $1 billion, primarily to purchase XRP on the open market and build the largest public XRP treasury. Backed by investors including Ripple and Kraken, Evernorth plans an active strategy involving lending, liquidity provision, and DeFi yields to grow XRP holdings.
Blockchain.com, a major cryptocurrency exchange and wallet provider, has engaged in discussions to go public in the U.S. via a special purpose acquisition company deal. The company appointed Cohen & Company Capital Markets as an advisor for the potential transaction. Details on ongoing talks and valuation remain unclear.