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Evernorth to Go Public in $1B SPAC Merger, Building Massive XRP Treasury
Evernorth Holdings, a Ripple-linked digital asset firm, plans to go public via a $1 billion SPAC merger with Armada Acquisition Corp. II, aiming to build one of the world’s largest XRP treasuries through open-market purchases. The deal includes a $200 million commitment from Japan’s SBI Holdings, with additional backing expected from Ripple, Pantera Capital, Kraken, and GSR.
Keyword Financial
Oct 20, 20255 min read
Makina Protocol Hack: Why Early 2026 is Seeing a Surge in DeFi Exploits
Makina, a DeFi protocol, reported a $4.2 million exploit on 20 January 2026 tied to liquidity providers in its DUSD/USDC Curve pool, adding to rising DeFi attacks in early 2026 with over $34 million in losses already recorded.
China Takes Custody of Alleged Pig Butchering Mastermind Behind Record BTC Seizure
Chinese authorities have taken custody of Chen Zhi, a businessman described by U.S. officials as a central figure in a major Bitcoin scam and money laundering operation linked to a record $15B bitcoin seizure. Chen, 38, is the chairman and founder of Cambodia-based Prince Group, a conglomerate that U.S. and U.K. authorities allege was used as cover for transnational criminal activity; Prince Group has denied the allegations.
CLARITY Act Update: DeFi Carve-Out, Digital Commodities, and the Next Phase of Crypto Market Structure
Washington is preparing a January markup for the Digital Asset Market Clarity Act (CLARITY Act) of 2025, a major U.S. crypto regulation proposal designed to reduce the long-running SEC vs CFTC jurisdiction fight and create clearer rules for digital assets trading.
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