merger

According to the American financial media Semafor, Musk proposed a merger between Tesla and SpaceX this week. A former Department of Justice official stated that the proposal poses a real risk of antitrust issues.The official noted that antitrust regulators typically view such vertical mergers as beneficial for improving supply chain efficiency and promoting competition. However, if Tesla and SpaceX are deemed to be potentially engaging in vertical exclusionary mergers, regulators may attempt to block it. The article explains exclusionary as companies using their position to limit competition from other levels of the supply chain, citing that if in the future only Tesla vehicles can use SpaceX's Starlink technology, other autonomous or electric vehicle manufacturers may be harmed.The report states that the outcome depends on the terms of this currently hypothetical deal, as well as how willing U.S. antitrust enforcement agencies, aligned with Trump's stance, are to clash with Musk, who is described as a major Republican donor. The report also mentions that even so, if the Democrats regain control of the House next month, Musk will face congressional investigations, and lawmakers will closely scrutinize his attempts to merge his companies.

SpaceX stated that any potential merger with Tesla must be further approved by the company's special committee, board of directors, and controlling shareholders.

According to Gate market data, Nasdaq futures rose 1% in early trading on Wednesday, boosted by SpaceX's earnings report and news of a merger with Tesla, which lifted the after-hours performance of U.S. tech stocks.

Elon Musk stated that SpaceX and Tesla have each established special committees to discuss merger matters. He believes that merging with Tesla is a good idea.

Barclays stated that the merger between Tesla (TSLA.O) and SpaceX (SPCX.O) may be announced before December.

According to BBX data, last weekend, global U.S. stock-listed treasury and mining companies released their latest accounts regarding asset reserves, reverse mergers, and liquidity management. The core updates are as follows:Evernorth completed its SPAC merger holding 473 million XRP, scheduled to debut on Nasdaq under the code "XRPN" on October 12: The treasury company Evernorth Holdings officially announced the completion of its business combination with the special purpose acquisition company Armada Acquisition Corp. II. At the time of the transaction's closing, the company’s treasury held approximately 473 million XRP and successfully raised about $300 million in total cash proceeds (before transaction costs). The newly merged company's common stock is expected to officially trade on Nasdaq starting October 12, with the ticker symbol "XRPN".Bitdeer (NASDAQ: $BTDR) disclosed the latest weekly mining data, producing 300.6 BTC and fully liquidating: Nasdaq-listed Bitcoin mining company Bitdeer announced its latest Bitcoin holdings data. As of the week ending October 9, its self-operated Bitcoin mining output was 300.6 BTC, and during the same period, it fully sold 300.6 BTC in the secondary market, resulting in a net addition of 0 BTC for the week. The balance sheet continues to implement a liquidity strategy of immediate sales, currently maintaining a zero Bitcoin holding.

Digital asset treasury company Evernorth Holdings, Inc. announced that it has completed its business combination with special purpose acquisition company Armada Acquisition Corp. II. Armada was initiated by Arrington XRP Capital Fund, LP. Evernorth aims to provide institutional access to the XRP ecosystem at scale, with common stock expected to begin trading on Nasdaq under the ticker XRPN on October 12, 2026, and ringing the Nasdaq closing bell on October 14.At the time of closing, the company holds approximately 473 million XRP and has raised about $300 million in gross cash proceeds (before transaction expenses). Investors include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, GSR, and others. Founder and CEO Asheesh Birla stated that the goal is to establish an actively managed XRP treasury to support ecosystem growth and meet public market demands for transparency and governance.The company stated that as institutional on-chain finance develops, the need for capital expansion in tokenized assets, on-chain credit markets, and settlement infrastructure arises. Evernorth intends to be a source of such capital and operate according to the reporting, governance, and disclosure standards of Nasdaq-listed companies. Michael Arrington, founder of Arrington Capital, stated that support for Evernorth is an extension of its XRP thesis, which will bring scalable capital, active participation, and public company standards.

Aero announced the token exchange terms and schedule for the merger of Aerodrome and Velodrome. The merger will start on October 21 at 20:00 (Eastern Time), at which point the token emissions of the two old platforms will cease. Existing AERO will be exchanged at a 1:1 ratio for the new AERO, with each VELO exchanging for approximately 0.044 AERO. This ratio applies to both circulating tokens and locked tokens. The exchange rate for VELO depends on the supply at the time of launch, with Aerodrome holders receiving 94.5% of the new supply and Velodrome holders receiving 5.5%.According to DefiLlama data, as of October 9, the total locked amount for the two exchanges is approximately $422 million. The merger was announced in November 2025, and the developers, Dromos Labs, originally planned to complete it in the second quarter of 2026. The new model replaces the original weekly voting cycle with real-time allocation, allowing staked AERO (sAERO) holders to direct rewards to the liquidity pool and accumulate earnings along with exchange revenue. There is an initial 47-hour cooling period for allocation adjustments.Existing veAERO and veVELO positions will be converted to new sAERO positions, with the remaining lock-up time carried over and rounded up to the nearest whole week, and permanent locks will convert to the longest staking period. Tokens will not be automatically exchanged; self-custodied assets must be managed through the upgrade portal at aerodrome.finance or velodrome.finance, and rewards and rebases must be claimed and active votes cleared first.

According to BBX data, yesterday global digital asset institutions disclosed the latest developments in capital operations, top venture capital layouts, and privacy infrastructure expansion. The core information is as follows:First Digital has reached a merger agreement with a SPAC, valuing at $250 million, aiming for a Nasdaq listing: The issuer of the dollar stablecoin FDUSD, First Digital, officially announced the signing of a final business merger agreement with the special purpose acquisition company CSLM Digital Asset Acquisition Corp III. The pre-transaction equity valuation for this deal is $250 million. Upon completion of the merger, First Digital will become a wholly-owned subsidiary of a newly established Cayman holding company, with its existing shareholders fully exchanged for Class A common stock of the holding company. The newly merged entity is expected to officially list on Nasdaq in the first half of 2027.AI trading agent startup Catalyst completes $30 million seed round financing, led by Sequoia Capital: AI trading agent startup Catalyst announced the completion of a $30 million seed round financing. This round was led by the world’s top venture capital firm Sequoia Capital, with participation from Wall Street high-frequency quantitative firm Jump Trading, Peak XV, Lux Capital, AntiFund, cryptocurrency exchange giant Coinbase, and Premji Invest, among other well-known institutions. The funds will be used to advance the development of the next-generation on-chain smart trading agent protocol.Blockchain privacy infrastructure Soda Labs receives exclusive $3 million seed round investment from NextBlock: Blockchain privacy infrastructure developer Soda Labs announced the completion of a $3 million seed round financing, exclusively invested by NextBlock. This funding will be specifically used for global market expansion, expanding the verification node network and blockchain support coverage, core team building, and accelerating the integration of its underlying protocol with commercial banks, traditional payment companies, and real-world asset (RWA) platforms. Soda Labs disclosed that its core privacy layer Bubble currently supports Ethereum, Polygon, Arbitrum, Base, and COTI, and is fully expanding to high-performance networks like Solana.

Binance has now completed the token merger of Stargate Finance (STG) into LayerZero (ZRO). The tokens have been distributed at a ratio of 1 STG = 0.08634 ZRO. The old STG tokens will no longer support deposits and withdrawals.

The AI merger analysis platform Comparables.ai announced the completion of a $6 million seed round financing, led by Pragmatech and Araya Ventures, with participation from Purple Ventures, Gorilla Capital, hi5 Ventures, Somersault Ventures, and other institutions.

According to CoinDesk, Armada Acquisition Corp. II (XRPN) closed at $39.42 last Friday, up 68% on the day, and has risen approximately 273% over the week, reaching a high of $53 during intraday trading, compared to $10.58 a week ago, with a further pre-market increase of 9.5% on Monday. The company is the SPAC driving the listing of XRP treasury company Evernorth, which stated that the merger is expected to be completed on October 7 (Wednesday), pending the fulfillment of remaining conditions.Evernorth is expected to hold approximately 473 million XRP at the time of closing, valued at about $714 million based on Monday's price of approximately $1.51. Its disclosed financing includes about $300 million in total cash proceeds, of which $225 million comes from a private placement, $30 million from convertible notes, and $48 million from Armada's trust funds, with supporters also directly investing in XRP. However, the company purchased 84.4 million XRP for $214.1 million by the end of 2025, at an average price of approximately $2.54, which is now worth about $127 million.Armada Trust held $241.2 million at the end of June, with each public share redemption valued at approximately $10.49. Evernorth's announcement on October 1 indicated that about $48 million of the trust funds would be reserved for trading, suggesting that approximately 80% of the trust funds would be returned to shareholders. Redemptions will reduce the number of publicly tradable shares, allowing relatively small orders to significantly drive up the stock price.

According to The Block, shareholders of Armada Acquisition Corp. II have approved its business combination with XRP Treasury company Evernorth, clearing a key step for the latter's listing on Nasdaq.The transaction is expected to raise approximately $300 million in total cash proceeds, with investors also contributing in physical XRP. Upon completion of the transaction, Evernorth is expected to hold approximately 473 million XRP. The transaction is expected to be completed on October 7, and the combined company plans to trade under the ticker XRPN starting October 8.

Animoca Brands and the Nasdaq-listed company Currenc Group have suspended the previously proposed reverse merger negotiations, which were originally intended to facilitate Animoca's listing. In a statement released on Tuesday, Animoca indicated that after assessing the project timeline and the "evolving market environment," both parties agreed that the time required to complete the transaction no longer aligned with their short-term and mid-term goals.Animoca co-founder and executive chairman Yat Siu stated, "Corporate agility must take precedence over" advancing the merger with Currenc. Animoca added that the company "remains fully committed to relisting on a major public exchange," and if conditions permit, both parties may consider resuming merger negotiations. The reverse merger plan was first announced in November 2025, originally intended for Currenc to acquire Animoca through an Australian arrangement, with Animoca shareholders collectively holding 95% of the merged company's shares post-merger.Animoca was previously listed on the Australian Securities Exchange but was delisted in 2020 due to scrutiny over its involvement in crypto-related activities. In 2022, the Australian Securities and Investments Commission convicted Animoca and imposed a fine for failing to submit annual reports for 2019-2021 and some semi-annual reports. Animoca stated that it is actively advancing the preparation of its audited financial statements for the fiscal year 2024 and continues to seek the optimal path for relisting. Currenc Group is a fintech company headquartered in Singapore, focusing on AI and tokenization solutions.

Binance will support the merger of Stargate Finance (STG) into LayerZero (ZRO). Binance will stop STG spot trading pairs on October 6, 2026, at 11:00 and will suspend deposits and withdrawals of the old STG tokens at 11:30.All STG tokens will be exchanged for ZRO tokens at a ratio of 1 STG = 0.08634 ZRO. Users should manage their positions and assets before the relevant time.

Tesla has announced that it will hold a launch event on October 1 to showcase its next-generation Roadster electric sports car. This event may spark speculation about a merger between Tesla and SpaceX. The phrase "Go for launch" used by Tesla officially echoes SpaceX's rocket launches.

According to Business Insider, the artificial intelligence open-source community Hugging Face is currently receiving multiple acquisition proposals, with potential deal values reaching 13 billion dollars.

According to businesswire, Bitcoin treasury company BSTR Holdings announced that it has reached an agreement with Cantor Equity Partners to terminate the business combination agreement signed by both parties on July 16, 2025.The reason for termination is that under the current market environment, the valuation of Bitcoin and publicly listed Bitcoin treasury companies continues to be under pressure, leading to a mismatch in the capital market, which restricts the amplifying effect of financing tools such as convertible bonds and perpetual preferred stocks in Bitcoin treasury strategies.BSTR stated that it will continue to promote institutional-level Bitcoin asset management business once the market environment stabilizes.