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Crypto

Evernorth CEO says South Korea is a promising market, bets on XRPL DeFi

Ashish Birla (아시시 벌라), chief executive of crypto treasury firm Evernorth, said the sector can no longer grow by simply stockpiling coins and needs a structure that generates recurring income from held assets. He said Evernorth plans to make tokenised real-world assets and DeFi on the XRP Ledger central to its business. Birla cited growing tokenised assets and institutional participation, and called South Korea a promising market.

Crypto

State Street launches money market fund for stablecoin issuers\' reserves

State Street has launched a money market fund for stablecoin issuers to manage reserve assets. The product is designed to align with the U.S. GENIUS Act and uses a government money market fund structure under Rule 2a-7, investing in assets such as U.S. Treasuries and repurchase agreements. State Street Bank and federally chartered crypto bank Anchorage Digital joined as initial investors. Financial firms are speeding product development as the stablecoin market expands.

Crypto

SpaceX, Anthropic and OpenAI IPO wave raises questions over bitcoin fund flows

OpenAI has filed confidential IPO paperwork with the U.S. SEC targeting a September listing, putting bitcoin on what the article calls Wall Street’s liquidity test. Markets are watching whether funding needs for mega IPOs such as SpaceX, OpenAI and Anthropic overlap with institutional money that has flowed into spot bitcoin ETFs. Recent price moves and ETF outflows have favored AI and semiconductor stocks, though the IPO wave may also signal revived risk appetite that could benefit bitcoin.