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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
The decentralized exchange Hyperliquid, operated by only 11 people, has become a major force in the crypto world with daily trading volumes exceeding $13 billion, thanks to its anonymity and high leverage.
The AI boom is driving a capital frenzy in the US data center industry, with major players pledging to invest tens of billions of dollars. A $40 billion acquisition deal has set a new record.
Leveraging Infrastructure Expertise, CleanSpark Enters AI Data Center Market Amid Mining Sector Recovery
BitMine Capitalizes on ETH Price Dip, Predicts Short-Term Rebound to $4,440 Amid Market Volatility
Preserving Industrial Electricity: A Contrast to France's Surplus Power Utilization for Bitcoin Mining
- 16:07BTC surpasses $113,000Jinse Finance reported that according to market data, BTC has surpassed $113,000 and is now quoted at $113,013.44, with a 24-hour increase of 1.61%. The market is experiencing significant volatility, so please manage your risks accordingly.
- 15:59Bitcoin Rollup protocol BitcoinOS completes $10 million financingJinse Finance reported that the Bitcoin Rollup protocol BitcoinOS (BOS) has completed a $10 million financing round to expand its institutional-grade Bitcoin financial tools and developer protocol. This round was led by Greenfield Capital, with participation from FalconX, DNA Fund, Bitcoin Frontier Fund, as well as angel investors including Anchorage Digital CEO Nathan McCauley and Leeor Groen from Spartan Group.
- 15:38Citigroup gives a "Strategy Buy" rating due to optimism about bitcoin's prospectsChainCatcher news, according to CoinDesk, investment bank Citigroup has initiated coverage on Strategy (MSTR) for the first time, assigning a Buy/High Risk rating and a target price of $485, positioning the stock as a leveraged bet on bitcoin. In early U.S. trading on Tuesday, MSTR shares rose by 1.5%, trading around $301. In a report released on Tuesday, Citigroup stated that the target price reflects its forecast that bitcoin will reach $181,000 in 12 months, representing a 63% upside from current levels, as well as a 25% to 35% net asset value (NAV) premium, which aligns with Strategy's historical bitcoin return multiple of 2.5x to 3.5x. Citigroup analysts believe that this structure makes the stock an amplified bet on bitcoin's performance, with significant upside potential in a bull market, but also the possibility of a sharp pullback if prices reverse. Citigroup noted that in the most pessimistic scenario, if bitcoin drops by 25% and the NAV premium shifts from 35% to a 10% discount, the stock could lose about 61%. The report states that Strategy is expected to continue issuing convertible bonds, preferred shares, and stocks based on the NAV premium to expand its bitcoin holdings.