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Quick Take Summary is AI generated, newsroom reviewed. Evernorth plans to raise over $1 billion through a SPAC merger to build the largest XRP treasury. Ripple, SBI Holdings, Pantera Capital, and other investors are backing the initiative. The treasury aims to increase XRP adoption, market stability, and institutional participation. Evernorth’s strategy shows how crypto and traditional finance can collaborate to boost digital asset utility.References BULLISH: RIPPLE-BACKED EVERNORTH WILL RAISE OVER $1 BILL
Quick Take Hyperliquid Strategies, a digital asset treasury firm focused on HYPE, submitted an S-1 filing with the SEC to raise $1 billion. The company plans to use the proceeds for general corporate purposes, including the accumulation of HYPE. The company is a pending merger entity formed by Sonnet BioTherapeutics and Rorschach I, aiming to launch within this year.
A Bitcoin whale known for accurately timing the October 10-11 market crash has deposited another 100 BTC to Kraken, maintaining $140 million in short positions on Hyperliquid.
Quick Take Decentralized exchange Bunni said it will shut down operations following a $8.4 million exploit last month. The team said users will still be able to withdraw assets until further notice.
Bitcoin trades below key cost basis levels, signalling demand exhaustion and fading momentum. Long-term holders are selling into strength, while the options market turns defensive, with rising put demand and elevated volatility, marking a cautious phase before any sustainable recovery.
- 01:21"7 Siblings" accumulate over 15,000 more ETH, bringing total holdings to $464 millionAccording to ChainCatcher, market sources report that the on-chain address "7 Siblings" has accumulated 15,092.8 ETH at an average price of $3,654.59 over the past 14 hours, with a total investment of $55.15 million. Previously, this address purchased 2,662.55 ETH for $10 million during the price drop on October 17. Its current total holdings have reached 128,205.83 ETH, which is approximately $464 million at the current price.
- 01:21The US Dollar Index (DXY) breaks above the 100 mark for the first time since August 1.According to ChainCatcher, citing Jinse Finance, the US Dollar Index (DXY) has surpassed the 100 mark, marking its first breakthrough since August 1.
- 01:19Trump urges New Yorkers to vote for Cuomo in the mayoral electionJinse Finance reported that Trump urged New Yorkers to vote for former Governor Andrew Cuomo in the mayoral race on the eve of the election. Trump stated, "Whether you personally like Andrew Cuomo or not, you really have no choice. You must vote for him. Cuomo is capable of serving as mayor, while the Democratic candidate Zohran Mamdani is not!" Previously, Trump had given lukewarm support to the former Democratic governor, who is running as an independent candidate, viewing him as the better of two bad options, while expressing no confidence at all in the Republican candidate. (Golden Ten Data)