• XRP-based institutional giant to hit $1 billion
• SEC clears SHIB regulatory status
• Bitcoin reacts to Fed's latest rate decision
• XRP's rising support forms near $1.53

XRP-based institutional giant to hit $1 billion

New SEC S-4 filing reveals SBI Holdings paid $10/share as Ripple's Chris Larsen injects 261 million XRP into the $1 billion Evernorth (XRPN) Nasdaq treasury.

While the crypto market is still digesting the news, an S-4 form has appeared in SEC filings revealing the true scale of Evernote Holdings’ ambitions. As it turns out, this is not just about a Nasdaq listing but about building a full-scale institutional "leviathan" based on XRP with capital already exceeding $1 billion.

Of the most interesting, exclusive details the document exposed is a significant difference in terms for the main contributors. Arrington Capital acquired the original SPAC for just $0.33 per share. Meanwhile, SBI Holdings, the Japanese giant, entered in a big way, paying $10 per share in cash.

Nevertheless, due to their ultra-cheap entry, the voting power of Arrington and others is capped, whereas SBI appears to have no voting restrictions. Japanese capital here is not only the main liquidity provider but also a real decision-maker.

At the center of the structure stands the subsidiary Pathfinder, named after the native liquidity algorithm of the XRP Ledger. This effectively serves as Evernote’s vault.

Ripple directly contributed 126 million XRP to this fund. Chris Larsen, Ripple’s cofounder, played a more complex move. His fund, RippleWorks, invested 211 million XRP into Arrington Capital, while Larsen himself added another 50 million XRP through a family trust. 

SEC clears SHIB regulatory status

Shiba Inu has been listed among the top cryptocurrencies that have been officially declared by the SEC as digital commodities.

After many years of consistent criticism and backlashes regarding Shiba Inu’s regulatory status, the leading dog-themed meme token has finally gained regulatory clarity from the U.S. SEC.

Earlier today, Shiba Inu’s top executive, Lucie, shared the win on X, revealing that SHIB has finally been declared a nonsecurity asset in a recent crypto guidance report released by the SEC in collaboration with the CFTC.

The U.S. SEC has openly discussed its approach to certain cryptocurrencies, dismissing longstanding misconceptions about its view on the asset. In light of this, the SEC released its new taxonomy, where it reportedly reclassified 16 major cryptocurrencies as digital commodities rather than securities.

Bitcoin reacts to Fed's latest rate decision

The Fed just held rates steady at 3.5%-3.75% in an 11-1 vote.

The Federal Reserve has opted to keep its benchmark interest rate unchanged at the 3.5%-3.75% range. 

With the Fed signaling fewer rate cuts than many risk-on investors had hoped for, Bitcoin and the broader digital asset space are digesting a reality where the cost of capital remains elevated for the foreseeable future.

The Federal Open Market Committee (FOMC) voted 11-1 to hold rates steady. However, the decision was not unanimous. Federal Reserve Governor Stephen Miran issued a notable dissent, arguing in favor of an immediate 25-basis-point rate cut.

Despite Miran's dovish stance, the overwhelming majority of the committee remains focused on persistent economic heat. The Fed explicitly noted that the macroeconomic implications of ongoing developments in the Middle East remain "uncertain." 

XRP's rising support forms near $1.53

XRP's exchange reserves are crawling upward, which could be a sign of an upcoming reversal on the market.

After weeks of continuous downward pressure, XRP is currently trading close to $1.53, indicating a modest recovery. Despite the asset's recent short-term rebound, its overall market structure still shows uncertainty, as the cryptocurrency market as a whole finds it difficult to regain steady bullish momentum.

After its sell-off in February, XRP has technically formed a gradually rising support line, indicating that buyers are trying to stabilize the price. The asset has been able to test nearby resistance levels created by short-term moving averages thanks to this gradual upward movement, which has helped it rise above the immediate support range around $1.43.

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