Macro Finance
An XRP treasury SPAC surges nearly 300% ahead of Evernorth merger
CoinDesk·October 5, 2026·1 min read
Armada Acquisition Corp. II surged about 270% last week, trading at nearly four times its roughly $10.50 trust value ahead of its merger with Evernorth, an XRP treasury company. The thinly traded shell's spike reflects speculative interest in the deal, which is set to bring XRP treasury operations to public markets.
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