Spac

Armada Acquisition Corp. II nearly quadrupled last week as the SPAC prepared to take XRP treasury firm Evernorth public. The move came amid heavy expected redemptions, a thin trading float and a planned balance sheet holding of approximately 473 million XRP.

AMINA is evaluating routes that could eventually lead to a public listing while emphasizing strategic growth capital as its immediate priority. The Swiss digital asset bank has drawn attention as crypto firms reassess IPO timing amid uneven public-market performance.

Empery Digital has sold 1,400 bitcoin for $62,200 each, raising $87.1 million to help fund an AI data center opportunity in the Midwest. The move marks a sharp turn away from the company’s bitcoin treasury ambitions, with management saying it has no plans to accumulate more BTC and may sell additional coins.

Securitize shares have fallen roughly 40% since the BlackRock-backed tokenization firm completed its SPAC merger. Market participants say the decline reflects post-SPAC trading dynamics and caution around recent crypto-linked public listings rather than a clear deterioration in fundamentals.

Securitize is preparing for a public debut through a merger with a Cantor Fitzgerald-backed SPAC, with the deal expected to close on July 1 pending shareholder approval. The listing would place the tokenization firm on the New York Stock Exchange under the ticker SECZ.