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Evernorth completed the SPAC merger and listed 473 million XRP on Nasdaq, while Bitdeer maintains zero holdings with a weekly production of 300 BTC

According to BBX data, last weekend, global U.S. stock-listed treasury and mining companies released their latest accounts regarding asset reserves, reverse mergers, and liquidity management. The core updates are as follows:Evernorth completed its SPAC merger holding 473 million XRP, scheduled to debut on Nasdaq under the code "XRPN" on October 12: The treasury company Evernorth Holdings officially announced the completion of its business combination with the special purpose acquisition company Armada Acquisition Corp. II. At the time of the transaction's closing, the company’s treasury held approximately 473 million XRP and successfully raised about $300 million in total cash proceeds (before transaction costs). The newly merged company's common stock is expected to officially trade on Nasdaq starting October 12, with the ticker symbol "XRPN".Bitdeer (NASDAQ: $BTDR) disclosed the latest weekly mining data, producing 300.6 BTC and fully liquidating: Nasdaq-listed Bitcoin mining company Bitdeer announced its latest Bitcoin holdings data. As of the week ending October 9, its self-operated Bitcoin mining output was 300.6 BTC, and during the same period, it fully sold 300.6 BTC in the secondary market, resulting in a net addition of 0 BTC for the week. The balance sheet continues to implement a liquidity strategy of immediate sales, currently maintaining a zero Bitcoin holding.

first_img XRP Treasury Company Evernorth has completed the SPAC merger and will be listed on XRPN

Digital asset treasury company Evernorth Holdings, Inc. announced that it has completed its business combination with special purpose acquisition company Armada Acquisition Corp. II. Armada was initiated by Arrington XRP Capital Fund, LP. Evernorth aims to provide institutional access to the XRP ecosystem at scale, with common stock expected to begin trading on Nasdaq under the ticker XRPN on October 12, 2026, and ringing the Nasdaq closing bell on October 14.At the time of closing, the company holds approximately 473 million XRP and has raised about $300 million in gross cash proceeds (before transaction expenses). Investors include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, GSR, and others. Founder and CEO Asheesh Birla stated that the goal is to establish an actively managed XRP treasury to support ecosystem growth and meet public market demands for transparency and governance.The company stated that as institutional on-chain finance develops, the need for capital expansion in tokenized assets, on-chain credit markets, and settlement infrastructure arises. Evernorth intends to be a source of such capital and operate according to the reporting, governance, and disclosure standards of Nasdaq-listed companies. Michael Arrington, founder of Arrington Capital, stated that support for Evernorth is an extension of its XRP thesis, which will bring scalable capital, active participation, and public company standards.

first_img Before the merger of XRP Financial Company and Evernorth, Armada SPAC's stock price rose approximately 273% in a week

According to CoinDesk, Armada Acquisition Corp. II (XRPN) closed at $39.42 last Friday, up 68% on the day, and has risen approximately 273% over the week, reaching a high of $53 during intraday trading, compared to $10.58 a week ago, with a further pre-market increase of 9.5% on Monday. The company is the SPAC driving the listing of XRP treasury company Evernorth, which stated that the merger is expected to be completed on October 7 (Wednesday), pending the fulfillment of remaining conditions.Evernorth is expected to hold approximately 473 million XRP at the time of closing, valued at about $714 million based on Monday's price of approximately $1.51. Its disclosed financing includes about $300 million in total cash proceeds, of which $225 million comes from a private placement, $30 million from convertible notes, and $48 million from Armada's trust funds, with supporters also directly investing in XRP. However, the company purchased 84.4 million XRP for $214.1 million by the end of 2025, at an average price of approximately $2.54, which is now worth about $127 million.Armada Trust held $241.2 million at the end of June, with each public share redemption valued at approximately $10.49. Evernorth's announcement on October 1 indicated that about $48 million of the trust funds would be reserved for trading, suggesting that approximately 80% of the trust funds would be returned to shareholders. Redemptions will reduce the number of publicly tradable shares, allowing relatively small orders to significantly drive up the stock price.

Evernorth plans to issue bonds worth 30 million USD to increase its holdings in XRP, while Bitdeer reported a weekly production of 287 BTC and maintains zero holdings

According to BBX data, last weekend, global publicly listed treasury and mining companies in the U.S. announced their latest accounts regarding digital asset allocation, note financing, and liquidity management. The core updates are as follows:Evernorth Holdings plans to issue $30 million in convertible senior notes, specifically for increasing its holdings in XRP and ecological expansion: The treasury company Evernorth Holdings submitted an 8-K filing to the U.S. SEC, disclosing that it has signed a subscription agreement with a trust under South Korea's NH Investment & Securities, planning to issue convertible senior payment-in-kind (PIK) notes with a scale of $30 million, an annual interest rate of 4%, and maturing in 2031. The formal effectiveness of the notes is contingent upon the completion of the business merger transaction between Evernorth and the SPAC company Armada Acquisition Corp. II (expected to close in the fourth quarter of 2026). The proceeds will be fully used to purchase XRP in the secondary market and participate in XRP-related ecological businesses. Noteholders can convert the notes into the company's Class A common stock one year after the effective date, with an initial conversion price of approximately $10.20 per share.Bitdeer (NASDAQ: $BTDR) disclosed weekly mining data, producing 287.2 BTC fully liquidated: The Nasdaq-listed Bitcoin mining company Bitdeer announced its latest Bitcoin holdings data. As of the week of September 18, its self-operated Bitcoin mining output was 287.2 BTC, and it sold 287.2 BTC in the open market during the same period, resulting in a net addition of 0 BTC for the week. The balance sheet continues to implement a liquidity strategy of immediate sale upon production, maintaining zero Bitcoin retention.

Japan National Police Agency: North Korea's cyber attack organization WaterPlum launched a large-scale attack targeting IT technicians

According to a joint alert issued by the Japanese National Police Agency, FBI, ASD/ACSC, BND, and BfV, the North Korean-backed cyber attack organization "WaterPlum" (also known as Contagious Interview) targets job seekers by disguising itself as an AI, cryptocurrency, and NFT company to post fake job listings. This lures job seekers into downloading NPM packages containing malware such as BeaverTail, InvisibleFerret, and OtterCookie, which then steal cryptocurrency wallet information and confidential data.As of July 2026, the organization has infected over 30,000 devices in more than 100 countries and regions worldwide, stealing information from over 7,000 cryptocurrency wallets, with the wallets under its control receiving at least approximately 1.7 billion yen (about 10.71 million USD) in cryptocurrency. The Japanese National Police Agency has discovered and dismantled a "notebook farm" established by local "supporters" for the first time in the country, where North Korean IT laborers remotely control PCs within the supporters' residences to conduct business, with the related amount involved reaching several hundred million yen.The police and FBI assess that WaterPlum and some North Korean IT laborers are under the unified command of the 313 Bureau of the Ministry of Military Industry of the Workers' Party of Korea, with the profits directly flowing into North Korea's national funding pool. The police remind IT technicians and corporate issuers to remain vigilant and avoid executing third-party code in unverified environments.
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