Arthur Hayes, CIO of Maelstrom, predicts US policymakers will print money to finance AI infrastructure and Treasury debt, which could drive cryptocurrency prices higher. He noted that AI companies require trillions for data centers and that an Asian country may shift to monetary stimulus, while expressing concern about financial stress in France and the long-term consequences of money printing.
Evernorth Holdings and Armada Acquisition Corp. II completed a shareholder-approved SPAC merger, raising over $1 billion and positioning Evernorth as the largest publicly traded XRP treasury company with approximately 473 million XRP. The combined entity will list on Nasdaq under ticker XRPN on October 8.
Bitcoin spiked above $85,000 following better-than-expected U.S. PCE inflation data in August, but retreated as Treasury yields remained elevated and risk appetite cooled. The 10-year Treasury yield at 5.28% emerged as a key obstacle to sustained gains, with analysts noting that yield declines will be crucial for further Bitcoin appreciation.
Solana treasury company HSDT completed a $15 million share offering at a 5% premium to net asset value. The fourth-largest publicly listed Solana reserve holder, with 2.3 million SOL, plans to use proceeds for additional SOL purchases or share repurchases.
The Bitcoin Policy Institute released a report questioning MSCI's proposed index rule changes that could exclude Bitcoin treasury companies, citing concerns about transparency and potential bias against digital asset firms. MSCI manages $21 trillion in benchmark assets, and the new "non-operating company" classification could trigger significant capital reallocation if implemented.