Crypto developments continue to reshape markets and politics this week. Ripple-linked Evernorth prepares a $1 billion public listing to build an XRP treasury, Jack Dorsey reignites the debate over Bitcoin’s true identity, and former New York governor Andrew Cuomo leans on crypto and AI as part of his political comeback in the New York City mayoral race. These stories highlight how blockchain, decentralized finance, and digital assets are increasingly influencing both global finance and public policy.
Evernorth Plans $1 Billion SPAC Merger for XRP Treasury
Evernorth Holdings, a digital asset firm closely associated with Ripple Labs, announced plans to go public through a merger with Nasdaq-listed Armada Acquisition Corp. II. The move aims to capitalize on institutional interest in publicly traded digital asset treasuries and strengthen XRP’s position in the crypto market.
The merger could generate over $1 billion in gross proceeds, including $200 million from Japan’s SBI Holdings, with further investments from Ripple, Pantera Capital, Kraken, and GSR. Evernorth intends to use the funds to accumulate a large XRP (XRP) reserve through open-market purchases.
Once finalized, the company is expected to trade on Nasdaq under the ticker symbol XRPN. CEO Asheesh Birla said the initiative will “accelerate XRP adoption” by giving investors public-market access to XRP and related decentralized finance (DeFi) strategies.
Jack Dorsey's "Bitcoin is Not Crypto" Statement Sparks Debate
Jack Dorsey, Twitter’s founder and a long-time Bitcoin advocate, has reignited debate in the cryptocurrency community with his post declaring, “Bitcoin is not crypto.” His statement drew thousands of responses and reopened old discussions about Bitcoin’s unique role within the blockchain ecosystem.
While Satoshi Nakamoto originally described Bitcoin (BTC) as a “peer-to-peer cryptocurrency,” Dorsey emphasized its role as a form of money, not just another digital asset. He pointed out that the 2008 Bitcoin white paper makes no mention of “crypto,” describing BTC instead as an “electronic cash system based on cryptographic proof.”
Dorsey, who has long dismissed rumors of being Nakamoto, reaffirmed in past interviews that he’s not the creator. Still, his statements continue to influence how both investors and developers perceive Bitcoin’s distinct identity within the cryptocurrency landscape.
Andrew Cuomo's NYC Mayoral Bid Focuses on Crypto and AI
Former New York governor Andrew Cuomo is reportedly betting on crypto and artificial intelligence to power his bid for New York City mayor. His campaign vision is to make NYC “the global hub of the future” by aligning blockchain, AI, and biotech sectors to drive technological growth and economic renewal.
According to journalist Eleanor Terrett, Cuomo plans to appoint a chief innovation officer and establish an Innovation Council with advisory committees for crypto, AI, and biotech. The initiative aims to attract investment, create jobs, and modernize how the city supports emerging industries.
By leveraging blockchain and AI technologies, Cuomo hopes to redefine New York’s innovation strategy, signaling a broader shift in how political leaders embrace the digital economy and crypto regulation as tools for urban transformation.