Daily News 19

Category: Coins

Digital assets, cryptocurrencies, blockchain, and currency news.

  • Should CASHCAT Traders Expect a Major Price Correction Soon?

    Should CASHCAT Traders Expect a Major Price Correction Soon?

    $CASHCAT’s recent price rally faced significant profit-taking after the altcoin reached an all-time high of around $0.254 on August 26. The pullback pushed the token’s 24-hour losses to 12.52%, while trading volume declined 18.43% to $64.79 million.

    The combination of falling price and lower volume suggests that market participation weakened during the correction rather than traders rushing to exit their positions. However, $CASHCAT still gave back part of its recent gains, leaving buyers responsible for defending the post-rally structure.

    Altcoin weakness adds pressure to $CASHCAT

    Broader market conditions also contributed to the weakness. The Altcoin Season Index fell to 35 from a level closer to 50, signaling a shift in investor sentiment and reduced appetite for broader crypto risk.

    At the same time, the Bitcoin Season Index rose sharply, indicating that capital was moving away from altcoins and toward Bitcoin exposure. This created a less favorable environment for speculative assets following their recent rapid gains.

    The Altcoin Season Index remained above 25, the level associated with deeper Bitcoin Season conditions. As a result, $CASHCAT’s correction occurred amid weakening altcoin momentum rather than a complete loss of speculative market interest.

    The same shift was visible in derivatives markets, where traders gradually reduced leveraged positions after the rally.

    Leverage retreats as funding premium collapses

    Open interest fell 3.32% to $62.67 million as derivatives traders reduced their outstanding $CASHCAT positions. Funding rates recorded a substantially sharper adjustment.

    The open-interest-weighted funding rate had climbed toward 0.33% during the rally, but fell back to 0.0077% by August 28. Although the funding rate remained slightly positive, its sharp decline pointed to weaker demand for leveraged long exposure.

    The decline in open interest occurred alongside the funding reset rather than an increase in speculative positioning. This suggests that traders were unwinding leverage as $CASHCAT moved away from its peak.

    That deleveraging removed some of the excess positioning built during the price advance. However, the reduction in leveraged participation also removed part of the demand that had helped fuel the rally.

    The next price reaction will determine whether this deleveraging marks a healthy cooling phase or develops into a broader structural reversal.

    Can $0.19768 support contain the correction?

    $CASHCAT retreated after resistance near $0.254 rejected the latest advance, bringing the $0.19768 support level into focus. The altcoin was trading at approximately $0.21651 at press time.

    Buyers had previously reclaimed $0.19768 before launching the final move toward the $0.254 zone. A successful defense of this level could therefore preserve the broader recovery structure despite continued profit-taking from short-term traders.

    Technical indicators have also cooled alongside the price. The Relative Strength Index briefly reached the overbought 70 level before falling to 65.51.

    The MACD remained bullish at 0.02904, but the shrinking positive histogram bar showed that bullish momentum was fading as sellers interrupted the advance.

    A successful defense of $0.19768 would keep the $0.254 level in view for another potential test. A break below that support, however, could increase downside pressure toward the broader $0.08907 support area.

    Source: CoinMarketCap

    Source: CoinGlass

    Source: TradingView

    Key takeaway

    $CASHCAT’s rally is losing momentum as profit-taking, declining trading volume, and reduced leverage weigh on demand. Holding the $0.197 support area could help preserve the recovery, while a breakdown would raise the risk of a deeper decline.

  • Top Meme Coin Tokenomics to Invest in 2026: Why MemeToro’s Fixed Supply Matters for Investors

    Top Meme Coin Tokenomics to Invest in 2026: Why MemeToro’s Fixed Supply Matters for Investors

    The meme coin market is becoming more selective as capital returns to risk assets. Instead of focusing only on community size and social media activity, traders are examining how token supply and distribution may influence long-term value.

    This makes meme coin tokenomics an important factor for investors comparing MemeToro, Dogecoin, Pudgy Penguins, and Bonk. Each project uses a different supply model, offering several approaches to consider when evaluating the top memecoin to invest in during 2026.

    Fixed Supply vs. Inflationary Supply

    Token supply is one of the clearest ways to assess potential dilution in a cryptocurrency. When new tokens continuously enter circulation, demand must grow quickly enough to absorb them. A capped supply, by contrast, gives the market a fixed ceiling.

    Dogecoin represents the inflationary model. $DOGE remains one of the most liquid and recognizable meme assets, but approximately 5 billion new coins enter circulation each year. This does not automatically make $DOGE a poor asset, but scarcity is not its primary investment argument.

    MemeToro takes the opposite approach. Its maximum supply is fixed at 1.2 billion $MT tokens, creating a defined ceiling for total supply.

    This makes MemeToro tokenomics relatively straightforward at a basic level. Investors can assess the total supply without accounting for perpetual emissions. However, a fixed supply does not automatically create demand. A token can remain scarce while declining in value if buyer interest falls, liquidity weakens, or the underlying ecosystem fails to develop.

    The value of a fixed supply depends on its relationship with demand. If adoption expands while supply remains capped, scarcity may become a stronger part of the market narrative.

    How MemeToro Allocates Its 1.2 Billion Tokens

    Distribution is another important element of meme coin tokenomics. Although a fixed supply provides useful context, investors also need to understand where the tokens will be allocated.

    MemeToro is allocating 71% of its 1.2 billion token supply, or 857,936,900 tokens, to public presale participants. This substantial share places public participation at the center of the token structure.

    The remaining 29% is divided among several categories:

    • CEX reserves: 10%, providing a dedicated allocation for centralized exchange requirements.
    • Marketing partners: 7.56%, supporting ecosystem promotion and growth.
    • Trading liquidity: 5%, establishing a defined allocation for market infrastructure.
    • $MT rewards: 4.44%, supporting participation-based incentives within the ecosystem.
    • Core team: 2%, keeping the direct team allocation limited.

    This distribution is relevant when comparing the top meme coin tokenomics to invest in during 2026, because supply concentration can influence market behavior after launch.

    Why Tokenomics and Utility Need to Work Together

    MemeToro’s supply model is paired with an intended use for $MT inside an AI-powered launchpad, rather than positioning the token solely as a meme asset.

    The platform is being developed on BNB Chain and focuses on automated tools for meme coin discovery and contract validation. Its AI system is designed to examine smart contracts for potential vulnerabilities, including suspicious code structures associated with rug pulls and honeypots.

    This utility connects potential token demand with platform activity. If traders and developers use the ecosystem, $MT could have a functional role beyond speculation.

    MemeToro also introduced staking during Stage 6. The current model offers 35% APR with a 30-day lockup, while more than 19.9 million $MT have reportedly entered the staking pool.

    For investors analyzing meme coin tokenomics, staking is relevant because locked tokens temporarily reduce the immediately available supply. At the same time, staking rewards can create additional future supply pressure, depending on how those rewards are distributed.

    That is why tokenomics should be evaluated as a complete system. Fixed supply, staking, allocation, liquidity, and utility all interact.

    Comparing MemeToro With Other Leading Meme Assets

    MemeToro’s model sits between traditional meme culture and utility-focused crypto infrastructure. $DOGE offers liquidity and recognition, while SHIB uses Shibarium activity and token burns to address its enormous supply.

    Bonk has developed a deflationary framework around hundreds of integrations. WIF has a fully circulating supply, removing future vesting unlocks as a source of additional selling pressure. PENGU connects its token with a broader consumer and intellectual property ecosystem.

    For investors searching for the top memecoin to invest in during 2026, these models present different trade-offs. Supply structure, distribution, utility, liquidity, and staking mechanics can all affect how a meme coin performs after launch.

    More Information on the MemeToro ($MT) Presale

    Source: cryptonews.net

  • Nearly 70% of Bitcoin Supply Is Now in Profit

    Nearly 70% of Bitcoin Supply Is Now in Profit

    Bitcoin’s recent price breakout, which lifted the cryptocurrency from about $62,000 to briefly reach $80,000 in just one week, has helped many investors recover losses.

    Following the sharp rebound, analysis from crypto analytics platform CryptoQuant showed that 69% of Bitcoin’s supply is currently in profit.

    Bitcoin’s profitable supply paints a mixed picture

    A large proportion of Bitcoin’s supply being in profit is generally considered bullish. It indicates that many holders have moved above their purchase prices, a development that can strengthen investor confidence and reduce selling pressure.

    However, the broader supply-based data presents a more mixed outlook and has raised concerns among market analysts. Historical figures show that Bitcoin’s supply in profit has remained above 50% for most of the current market cycle, making the latest reading less unusual than it might initially appear.

    The metric fell below 50% for only 15 days, particularly before Bitcoin’s rally in July. Although most of Bitcoin’s supply has consistently remained profitable, the data indicates that the elevated percentage has been supported by tokens that have stayed dormant for years. Some of those coins may remain inactive for an extended period.

    $617 billion of Bitcoin remains underwater

    Despite the high percentage of Bitcoin’s supply in profit, the amount of capital invested in the cryptocurrency shows that many investors have yet to recover their gains.

    According to the data, $617 billion of the total capital represented by Bitcoin’s supply remains at a loss. The overall value of that supply exceeds $1 trillion.

    This suggests that, despite the recent increase in Bitcoin’s profitable supply, a significant portion of the capital invested in the asset has not yet returned to profit.

  • Capital B Raises €21 Million to Increase Bitcoin Holdings to 3,415 BTC

    Capital B Raises €21 Million to Increase Bitcoin Holdings to 3,415 BTC

    European-listed investment firm Capital B has announced a €21 million ($24.45 million) capital increase targeting institutional investors. The proceeds are intended to finance the purchase of up to 270 additional Bitcoin, potentially increasing the company’s holdings from approximately 3,145 $BTC to about 3,415 $BTC.

    Capital B’s Bitcoin Capital Raise

    The offering involves issuing 36,219,070 new shares at €0.58 per share. It is aimed at global institutional investors, with Blockstream CEO Adam Back and digital asset manager TOBAM among the participants.

    Capital B said the funds, together with existing operating capital, will be used to buy Bitcoin on the open market. Any purchases will remain subject to market conditions and regulatory approvals.

    Bitcoin Treasury Strategy and Market Context

    Capital B’s move reflects the growing trend of publicly traded companies adopting Bitcoin as a reserve asset. Companies such as MicroStrategy and Tesla have helped drive interest in corporate Bitcoin treasury strategies.

    By expanding its Bitcoin holdings, Capital B aims to give shareholders indirect exposure to Bitcoin’s potential upside through a European-listed company. However, the strategy also exposes the firm and its investors to the cryptocurrency’s significant price volatility.

    Adam Back’s participation adds support from a prominent figure in the Bitcoin ecosystem and signals confidence in Bitcoin’s long-term value proposition. The involvement of TOBAM also highlights continued interest from digital asset managers and institutional investors.

    What the Capital Increase Means for Investors

    The capital raise provides investors with a way to gain Bitcoin exposure through a European-listed entity, potentially benefiting from established corporate governance and regulatory structures. At the same time, investors face risks including Bitcoin price volatility, dilution from the issuance of new shares, and regulatory uncertainty.

    Market participants will be watching whether Capital B can complete the planned Bitcoin purchases at favorable prices and how the additional holdings affect the company’s broader treasury strategy.

    Capital B Bitcoin Holdings and Next Steps

    Capital B’s latest capital increase marks a significant step in its Bitcoin accumulation strategy and positions the firm among Europe’s larger corporate Bitcoin holders. The company’s progress with the offering and its subsequent Bitcoin purchases may provide further insight into its long-term confidence in the asset.

    Frequently Asked Questions

    What is Capital B’s current Bitcoin holding?

    As of the announcement, Capital B holds approximately 3,145 $BTC. If the company completes the full purchase of 270 $BTC, its holdings would rise to about 3,415 $BTC.

    Who are the key investors in Capital B’s capital raise?

    Blockstream CEO Adam Back and digital asset manager TOBAM are among the investors participating in the €21 million offering.

    What are the risks associated with the capital increase?

    The main risks include Bitcoin price volatility, potential dilution of existing shares, and regulatory uncertainty. Investors should conduct their own due diligence before participating.

    Related Reading

    • $BTC Perp Long/Short Ratios Show Slight Shift as Open Interest Holds Steady
    • Bitcoin Spot CVD Signals Mixed Order Flow as $BTC Holds Key Range
    • Bitcoin, Ethereum, Ripple price analysis: Bullish momentum persists but technicals flash caution
    • Bitcoin Crosses $80,000 as $6 Billion Options Expiry Looms; Ethena and Official Trump Lead Altcoin Gains
    • Crypto Futures Liquidations Top $295M in 24 Hours as Shorts Dominate
  • XRP Set for 187% Boost as Ledger Signals Bullish Market

    XRP Set for 187% Boost as Ledger Signals Bullish Market

    Transactions processed per ledger on the XRP Ledger (XRPL) have surged 187.9%, marking another notable shift in network activity. Combined with XRP’s recent price breakout, the increase suggests that the network is handling substantially more activity at each ledger close, even as several key metrics have declined.

    XRP Ledger transaction activity rises

    The latest data shows that transactions per ledger reached 189.29, making it the network-activity metric with the strongest positive change. Payment activity also points to continued transactional demand, with payments increasing 19.3% to approximately 568,100.

    However, the broader picture is mixed. Successful transactions fell 16.3% to 914,100, while total transactions declined 26.4% to 994,000. Closed ledgers dropped 74.4% to approximately 5,300.

    The sharp decline in ledger closes helps explain the 187.9% increase in transactions per ledger. When fewer ledgers are recorded but transaction activity remains substantial, the average number of transactions included in each ledger rises mechanically.

    Active XRP Ledger accounts show mixed results

    Account data is similarly uneven. Active accounts decreased 64.5% to 4,800, while newly created accounts fell 77.7% to just 463. At the same time, active users remained high at approximately 478,300, representing a 157% increase.

    The value transferred through payments also declined sharply. Although the number of payments increased, payment volume fell 82.2% to approximately 70.8 million XRP. This suggests that the network is processing more individual payments at a significantly lower average value.

    Transaction fees declined 67.5% to 92.2 XRP, reducing the amount of XRP burned through fees.

    XRP price holds above key technical level

    XRP’s price performance remains considerably stronger than it was earlier in August. After breaking out from roughly $1.00, XRP is currently trading at $1.41.

    Despite retracing from its recent spike to $1.70, the asset remains above its long-term moving average near $1.35. The Relative Strength Index (RSI) has also cooled to approximately 68 after briefly entering extremely overbought territory, easing some of the immediate overheating concerns.

    Overall, not every aspect of XRPL activity is expanding despite the 187.9% increase in transactions per ledger. The network is showing weaker account creation and payment value, alongside higher transaction density and stronger payment counts.

    For XRP, holding the $1.35–$1.40 region is now important. Maintaining that range would preserve the structural breakout and leave open the possibility of another move toward $1.50–$1.70.

    Source: cryptonews.net

  • Crypto Advisors Used SEC Certificates That Were Never Issued

    Crypto Advisors Used SEC Certificates That Were Never Issued

    The U.S. Securities and Exchange Commission has asked a federal court to impose injunctions against 38 crypto investment advisory firms accused of using fake SEC certificates and false filings to attract retail investors.

    The enforcement action names crypto businesses including CryptoOrbit, Ftaexchange, Pinnacle, Quantum, RBH Infinity Exchange, THEVGPRO and others. The SEC alleges that the firms falsely presented themselves as legitimate U.S. investment advisers.

    SEC targets crypto advisers over fake registration claims

    Quantum Financial Institute, a crypto-focused firm, allegedly claimed it had registered investment adviser status despite having no valid registration. One promotional release advertised “a multi-dimensional intelligent investment system” and “courses” where students could learn about “bitcoin giveaways” and “the highest win-rate strategies, helping students understand the deep logic of the market.”

    The firm also allegedly displayed a fraudulent SEC certificate to deceive customers.

    🚨Today, the SEC charged 38 entities alleging that they feigned legitimacy as U.S. advisers through false filings to lure retail investors.Read more below ⬇️ https://t.co/OuJYmUvni2
    — U.S. Securities and Exchange Commission (@SECGov) August 27, 2026

    The commission is asking the federal court to impose civil penalties and revoke the defendants’ eligibility to use reporting exemptions in future investment adviser filings. At the SEC’s direction, the Financial Industry Regulatory Authority has already removed non-compliant adviser forms from adviserinfo.sec.gov.

    RBH Infinity Exchange Inc, Pinnacle Crypto Exchange Inc, THEVGPRO Ltd, Quantum Financial Institute Ltd, Ftaexchange Ltd and other crypto businesses are now defendants in civil lawsuits filed in the United States.

    Promotional articles about some of the firms falsely claimed that they held valid SEC registrations. In some cases, the registration numbers cited in those materials precisely matched the numbers involved in the SEC’s enforcement action.

    Pinnacle allegedly marketed crypto swaps while promoting its purported good standing with U.S. regulators. THEVGPRO advertised a BTC backed “settlement security fund, enhancing global liquidity and payment efficiency” and cited registration numbers that the SEC says it never approved.

    The SEC alleges that the defendants made materially false statements on Form ADV and failed to submit required disclosures. The commission says the firms violated Sections 204(a) and 207 of the Investment Advisers Act. The initial complaints do not quantify investor losses.

    SEC staff attempted to contact many of the crypto advisers accused of making false claims. Several listed phone numbers had been disconnected or belonged to unrelated businesses, while postal mail was returned as undeliverable.

    Disconnected phones and undeliverable addresses

    Several of the unregistered investment advisers claimed to operate from Colorado while allegedly using Hong Kong IP addresses. Apexium Securities Ltd, for example, reportedly used Hong Kong connections while listing a Colorado office where it had no physical presence.

    Web3 University, another unregistered crypto operator, allegedly accessed FINRA’s filing system from the People’s Republic of China. The company also used a disconnected phone number and listed an undeliverable office in Colorado Springs.

    CryptoOrbit, another defendant in the SEC action, allegedly claimed to hold SEC certificates that the commission had never issued.

    A promotional release from Ftaexchange touted digital asset trading and custody services while falsely presenting the company as a registered SEC investment adviser in good standing.

    RBH promoted three crypto tokens focused on health and intellectual property that are now worthless. Its promotional material urged readers to “invest in the future — act now.”

    Pinnacle Crypto Exchange allegedly claimed it had completed SEC registration even though it had not.

    Absolutaris Base Limited was also named as a defendant in the SEC’s action. The Better Business Bureau received consumer complaints about the service, including allegations involving worthless stock signals, a fake trading application and advertisements promising monthly returns of 20-60% that appeared to be unsustainable.

    Source: cryptonews.net

  • Metaplanet Moves $108 Million in Bitcoin to Coinbase Prime, Raising Selloff Concerns

    Metaplanet Moves $108 Million in Bitcoin to Coinbase Prime, Raising Selloff Concerns

    Bitcoin treasury firm Metaplanet is back on investors’ radar after moving 1,350 BTC into Coinbase Prime, raising concerns about a potential sell-off.

    The transfer comes as Bitcoin continues to target a successful break above the $80,000 resistance level. The movement of the coins to Coinbase Prime has fueled speculation over whether Metaplanet could be preparing to sell part of its Bitcoin holdings.

  • Shiba Inu’s Shibarium TVL Plunges 74% in 48 Hours as DeFi Activity Falls

    Shiba Inu’s Shibarium TVL Plunges 74% in 48 Hours as DeFi Activity Falls

    Shibarium, Shiba Inu’s Layer-2 blockchain, has recorded a sharp decline in decentralized finance (DeFi) activity, with its total value locked (TVL) falling 74% in the past 48 hours.

    The drop comes as investors turn their attention to recent price gains across the Shiba Inu ecosystem. While $SHIB and other ecosystem tokens attracted interest during the broader cryptocurrency market rally, Shibarium’s DeFi metrics moved in the opposite direction.

    Shibarium TVL Falls 74%

    According to DeFiLlama data, Shibarium’s TVL stood at $121,860 as recently as August 26, keeping the network above the $100,000 threshold. However, TVL dropped to $31,277 the following day before recovering slightly to $31,513 in the hours leading up to press time.

    Despite the modest recovery, Shibarium’s TVL remained 74.14% below its level 48 hours earlier, underscoring the severity of the decline.

    WoofSwap leads Shibarium’s protocols with $11,362 in locked assets, according to DeFiLlama. ShibaSwap follows with $8,179, while Shibex ranks third with $5,683. Combined, the three protocols represent a substantial share of the liquidity locked across the Layer-2 network.

    Shibarium DEX Trading Volume Drops to Zero

    Shibarium’s decentralized exchange (DEX) activity has also deteriorated alongside its TVL.

    The network recorded $0 in DEX trading volume over the past three days, DeFiLlama data showed. Over the past seven days, Shibarium recorded just $9.56 in DEX volume, an 85% decline from the previous week.

    The weakness therefore extends beyond TVL. The steep fall in trading activity points to a broader slowdown in DeFi participation across Shibarium.

    $SHIB and BONE Rally Despite Shibarium DeFi Slump

    Shibarium’s declining DeFi activity comes as Shiba Inu ecosystem tokens benefit from the broader recovery in the cryptocurrency market.

    $SHIB recently climbed to a multi-month high of $0.000006191, while BONE rallied to $0.058. Both tokens have since pulled back slightly from those highs but have retained some of their recent gains. At press time, $SHIB was priced at $0.000005396 and BONE at $0.05233.

    As a result, the recent decline in Shibarium’s TVL cannot easily be attributed to weakness across the broader Shiba Inu ecosystem. The scale of the TVL drop also appears too large to have resulted solely from the modest pullback in $SHIB and BONE. At press time, the precise reason for Shibarium’s sudden TVL collapse remained unclear.

    Meanwhile, ShibariumScan was still indexing the blockchain following a major upgrade. At press time, the explorer showed that only 49% of the network’s blocks had been indexed. Consequently, total transactions, which stood at 1.56 billion before the incident, had fallen to 575.91 million, while the number of wallet addresses had dropped from around 269 million to 79.87 million.

  • Bybit Launches 24/7 Options Trading for SpaceX and Nvidia

    Bybit Launches 24/7 Options Trading for SpaceX and Nvidia

    Bybit, one of the world’s largest cryptocurrency exchanges by trading volume, is launching 24/7 options trading linked to SpaceX and Nvidia shares. The move brings traditional equity derivatives to a crypto-native platform where traders can access markets at any time, including weekends.

    The offering challenges the limited trading hours and settlement windows of traditional stock markets. Instead of waiting for an exchange to open, traders will be able to buy and sell options contracts tied to SpaceX and Nvidia around the clock.

    Bybit’s 24/7 stock options offering

    The SpaceX options are particularly notable because the company remains privately held. SpaceX shares are difficult to access through conventional investment channels, with trading typically taking place through secondary markets that offer limited transparency.

    Nvidia, by contrast, is one of the world’s most actively traded public companies, driven largely by investor demand linked to the artificial intelligence boom. Options trading outside Nasdaq’s regular operating hours could allow traders to respond to breaking news without waiting for the next market opening.

    Bybit’s always-on approach reflects the way cryptocurrency markets operate. Bitcoin and other digital assets trade continuously, including on weekends, and the exchange is betting that equity traders will also value uninterrupted market access.

    Crypto exchanges expand into traditional finance

    Bybit is not the first cryptocurrency platform to introduce stock-related products. However, combining 24/7 availability with options trading, rather than offering only spot exposure, increases the significance of the move.

    Several exchanges have experimented with tokenized equities and pre-IPO contracts in recent years. Regulatory scrutiny, however, has prevented the sector from becoming fully mainstream.

    The SpaceX product will be closely watched. Because Elon Musk’s rocket company is not listed on a public exchange, price discovery generally takes place through less transparent secondary markets. A more liquid options market, even one hosted by a crypto exchange, could influence how investors value one of the world’s most prominent private companies.

    What Bybit’s stock options mean for traders

    For crypto-native traders, the appeal is clear: familiar infrastructure and interfaces combined with access to new asset classes. Equity traders seeking alternatives to market closures and settlement delays may also find features that traditional brokerages do not offer.

    The risks are equally significant. Crypto exchanges operate under regulatory frameworks that differ from those governing traditional securities venues, and protections available to traders on regulated stock exchanges may not apply. The way these products are structured, whether as synthetic contracts, tokenized derivatives, or another form of exposure, will likely influence the regulatory response.

    Bybit is betting that demand for continuous trading will grow faster than regulatory resistance. As cryptocurrency platforms expand further into traditional finance throughout 2025, the exchange’s strategy could mark another step toward round-the-clock access to equity-linked markets.

  • XRP Gains Attention on Nasdaq as SEC Approves XRP-Related Issue: Details Explained

    XRP Gains Attention on Nasdaq as SEC Approves XRP-Related Issue: Details Explained

    Bitcoin and altcoins are driving renewed momentum across the cryptocurrency market, while positive developments are also emerging for $XRP. Evernorth Holdings, an $XRP treasury company, has moved closer to its planned Nasdaq listing after reaching another key stage in its proposed merger with Armada Acquisition Corp. II.

    Evernorth’s SEC Registration Statement Takes Effect

    Evernorth Holdings announced that its Form S-4 registration statement filed with the U.S. Securities and Exchange Commission (SEC) for the merger has gone into effect. Shareholders are scheduled to vote on the proposed merger with special purpose acquisition company Armada Acquisition Corp. II on September 30, 2026.

    The registration statement becoming effective represents a significant milestone in the transaction and advances Evernorth’s plans to become a publicly traded $XRP-focused treasury company.

    $XRP Treasury Company Could Trade Under the XRPN Ticker

    If shareholders approve the merger and all other closing conditions are satisfied, the combined company is expected to trade on Nasdaq under the ticker symbol “XRPN.” The company would operate as a treasury business focused on $XRP.

    Evernorth founder and CEO Asheesh Birla said, “Today is a significant milestone toward completing the business merger we proposed. Our goal was to create an actively managed $XRP treasury with the transparency and governance demanded by public markets. With the entry into force of the registration statement, we are one step closer to realizing our vision.”

    Evernorth’s major investors include Ripple, SBI Group, Pantera Capital, Kraken, GSR, and Arrington Capital. The company said it has secured more than $1 billion in gross proceeds and committed capital from investors.

    This is not investment advice.