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Crypto
Evernode reworks Nasdaq listing terms as XRP nears $1
Evernode Holdings, a crypto treasury company backed by Ripple, has revised the terms of a Nasdaq listing worth more than $1 billion to reflect XRP\'s price decline, U.Today reported. The firm redesigned its SPAC merger structure to link valuation to XRP\'s volume-weighted average price at closing rather than a fixed assumption. It will keep a $10 share issue price but reduce shares issued and increase XRP backing per share. Investors and partners approved the changes.
Crypto
Evernode says legacy banking networks are outdated - why
Evernode said key infrastructure at the heart of the global financial system remains stuck on technology built decades ago, and predicted future financial services may be built directly on blockchain networks rather than through upgrades to existing banking rails. It said many systems linking major banks were designed 30 to 60 years ago, making cross-border transfers slow and inefficient. Evernode also said XRP is expanding beyond payments into lending, tokenised vaults and DeFi.
Crypto
STS Digital raises $30 million, targets institutional crypto options platform
Bermuda-based startup STS Digital has raised $30 million as it provides cryptocurrency options trading services for institutional investors during a market downturn. Fortune reported the round was led by venture investor CMT Digital, with participation from crypto exchange Kraken, venture firm Arrington Capital and Fidelity’s investment arm. STS Digital handles more than 400 crypto options contracts and also acts as a market maker to provide liquidity.