Briefs · Evening brief
Evening brief: Evernorth closes at $16.91 in its first Nasdaq session under its own name, and Strategy buys back $192 million of preferred stock
Bitcoin ended the U.S. session 0.59% above Friday's close on Coinbase after fading from its morning level, Evernorth's shares touched $19.38 before closing down 1.05%, per Nasdaq, and Farside had not yet published Monday's spot-ETF flows at 4:22 p.m. ET.
Bitcoin closed the U.S. session at $82,784.08 on Coinbase, 0.59% above Friday's close and 0.39% below its 8:25 a.m. ET level, as the weekend gain faded across the market. [1][3]
The stake to watch is Evernorth. XRP closed at $1.3641, 4.65% below the $1.43069 "Closing XRP Price" Evernorth used to price its private placements, a gap that was about 2.3% at 8:25 a.m. ET That was the backdrop for the XRP treasury company's first Nasdaq session under the Evernorth name. [1][3][13][9]
U.S. session close
Coinbase 4:00 p.m. ET one-minute candles vs Friday's 4:00 p.m. ET candle and the 8:25 a.m. ET ticker. [1][3]
| Asset | 4:00 p.m. ET close | vs Fri close | vs 8:25 a.m. ET |
|---|---|---|---|
| BTC-USD | $82,784.08 | +0.59% | −0.39% |
| ETH-USD | $2,519.43 | +1.72% | −0.78% |
| SOL-USD | $108.23 | −0.30% | −2.29% |
| XRP-USD | $1.3641 | −1.52% | −2.39% |
Bitcoin slipped below Friday's $82,299.81 close in the 2:45 p.m. ET five-minute bar, to a low of $82,199.26, then recovered. The size does not matter much: its 8:25 a.m. ET to 4:00 p.m. ET range was about 1.1%, and it finished 0.42% above its 9:30 a.m. ET level. [1]
Movers
All 28 pairs in the Coinbase USD screen fell between 8:25 a.m. ET and 4:00 p.m. ET; bitcoin fell least. The weekend leaders still lead against Friday. [2]
| Coin | 4:00 p.m. ET close | vs Fri close | vs 8:25 a.m. ET |
|---|---|---|---|
| TIA | $0.5498 | +17.93% | −5.68% |
| NEAR | $5.4635 | +16.97% | −3.35% |
| INJ | $7.67 | +11.95% | −3.93% |
| ALGO | $0.123 | +10.34% | −4.60% |
| OP | $0.13623 | +8.61% | −1.94% |
| ICP | $3.2468 | +8.23% | −5.21% |
| FIL | $1.1329 | +5.60% | −8.74% |
| ATOM | $1.8403 | −8.82% | −0.89% |
FIL gave back the most after 8:25 a.m. ET; ATOM is the weakest against Friday. [2]
ETF flows
Farside had not published Monday's flows as of 4:22 p.m. ET. Its Oct. 12 row is a placeholder with dashes for every fund, so this brief reports no Monday figure. U.S. stock exchanges were open; Columbus Day closed only the bond market. [4][5][19][20]
Friday Oct. 9: spot bitcoin ETFs took in $21.1 million (IBIT +$22.4 million), after outflows of $484.9 million on Oct. 7 and $244.1 million on Oct. 8. Spot ether ETFs lost $56.1 million, all from ETHA, their ninth straight outflow session (Sep. 29 to Oct. 9). [4][5]
Perps / funding
OKX USDT perpetual swaps, 4:21 p.m. ET. Funding, the periodic payment between long and short holders, stayed near flat: BTC +0.003638% for the period settling at 8:00 p.m. ET, from +0.008096% at 8:25 a.m. ET; ETH +0.003065%, from +0.001206%. Mark price sat 4.6 bp (BTC) and 4.8 bp (ETH) under the index. [6]
Liquidations ran long all day, on OKX only. From 8:25 a.m. ET to 4:20 p.m. ET, OKX liquidated $6.02 million of BTC longs against $0.36 million of shorts, and $7.10 million of ETH longs against $0.57 million of shorts, at bankruptcy price; the biggest cluster came from 8:25 to 8:59 a.m. ET Cross-exchange totals are unavailable: Coinglass, Binance Futures and Bybit were not called after all three failed this morning. [7]
What printed
U.S. regulators were quiet for Columbus Day, and EDGAR accepted no filings Monday; company news came through IR pages and wires. [21][22]
01 · Evernorth closes its first Nasdaq session as Evernorth at $16.91 after touching $19.38. XRPN closed at $16.91 at 4:00 p.m. ET, down $0.18 (−1.05%), in a $16.39 to $19.38 range, per Nasdaq. [9] The comparison is the $17.09 Oct. 9 close carried under the same ticker from the SPAC, Armada Acquisition Corp. II. [10] Evernorth also named Hugo Jeandesboz, previously Co-Chief Investment Officer at Coinbase Asset Management, as Chief Investment Officer, and corrected its closing 8-K for "a clerical error": delayed-funding subscribers received 1,078,614 Class A shares, not 663,510. [11][13]Its stated "approximately 473 million XRP" was worth about $645 million at the 4:00 p.m. ET XRP close (Le Coin calculation). [12][1]
02 · Strategy adds 250 bitcoin and buys back $192 million of STRC preferred. Strategy said it bought 250 BTC from Oct. 5 to Oct. 11 at an average of $86,194, including fees, funded with $21.0 million of MSTR at-the-market proceeds and $0.5 million of USD Cash. [14] Its ledger shows 848,250 BTC at an average cost of $75,444. [15] Bitcoin's 4:00 p.m. ET close was about 4% below last week's purchase average (Le Coin calculation). [1][15]The larger number is the $192 million STRC repurchase. [14] Le Coin's view: the buyback was roughly nine times the bitcoin purchase, 16 days before holders vote on daily preferred dividends. [14][25]
03 · Aave risk adviser LlamaRisk backs Tether America's USAT as borrow-only, with a 20 million cap. At 2:52 p.m. ET, LlamaRisk supported listing USAT on Aave V3 Core and the V4 Core Hub "as a borrowable, non-collateral reserve priced at a hardcoded $1," with a 20 million USAT supply cap and 0% loan-to-value. [16] That compares with 183,317,585.50 USAT circulating on Ethereum in its count. [17] It flagged that upgrade authority and every privileged function "sit with one 3-of-5 multisig with no timelock and no pause lever." The proposal is still a request for final comment (ARFC); nothing is live. [16]
04 · Standard Chartered switches on custody for Ripple's RLUSD stablecoin. Standard Chartered said institutional custody of Ripple USD (RLUSD) on the XRP Ledger "is now live" through its DIFC branch, regulated by the Dubai Financial Services Authority. It is also working with Ripple and LMAX Group "to enable RLUSD as eligible collateral" without moving the tokens to the venue; that part remains "subject to final documentation, successful testing" and approvals. [18]
Digital-asset equities
The broad tape was quiet: S&P 500 7,807.24 (−0.06%), Nasdaq Composite 27,245.90 (−0.44%). [8] COIN $180.39 (+0.56%), MSTR $152.68 (−1.08%). Miners were mostly soft: MARA $9.44 (−2.18%), RIOT $16.47 (−2.46%), CLSK $10.30 (−1.86%); HUT was the exception at $85.24 (+1.15%). [8]
Open items still in play
- CFTC crypto rules: comments due Dec. 14. The CFTC's advance notice of proposed rulemaking (ANPRM, FR Doc. 2026-20888) publishes in Tuesday's Federal Register, Oct. 13; the Federal Register lists comments closing Dec. 14, 2026, correcting the morning brief's Dec. 12 count. [23] The event-contract proposal and casino interim rule were still not on public inspection Monday, so their 30-day clocks have not started. [21]
- SEC crypto custody: comments due Dec. 7. "Adviser and Regulated Fund Custody Rules; Crypto Custody Rules," FR Doc. 2026-20466, published Oct. 6. [24]
- Strategy vote: Oct. 28. Holders vote at a virtual special meeting on Wednesday, Oct. 28, 2026, at 10:00 a.m. ET, on amending STRF, STRC, STRK and STRD "to provide for daily dividends." [25]
Sources (25)
- Coinbase Exchange, BTC-USD, ETH-USD, SOL-USD and XRP-USD one-minute candles (Friday Oct. 9 and Monday Oct. 12, 4:00 p.m. ET; Monday 9:30 a.m. ET), five-minute candles 8:25 a.m. ET to 4:00 p.m. ET, and tickers. Accessed Oct. 12, 2026, 4:21 to 4:23 p.m. ET.
- Coinbase Exchange, liquid USD movers screen, 28 pairs. Accessed Oct. 12, 2026, 4:21 to 4:22 p.m. ET.
- Coinbase Exchange, BTC-USD, ETH-USD, SOL-USD and XRP-USD tickers, Monday ~8:25 a.m. ET (morning brief v4 reference). Accessed Oct. 12, 2026, 8:25 a.m. ET.
- Farside Investors, Bitcoin ETF Flow. Latest printed session Friday Oct. 9; Oct. 12 row is a placeholder. Accessed Oct. 12, 2026, 4:22 p.m. ET.
- Farside Investors, Ethereum ETF Flow. Latest printed session Friday Oct. 9; ninth consecutive outflow day, Sep. 29 to Oct. 9; Oct. 12 row is a placeholder. Accessed Oct. 12, 2026, 4:22 p.m. ET.
- OKX public API, BTC-USDT-SWAP and ETH-USDT-SWAP funding-rate, funding-rate-history, mark-price, index-tickers and open-interest. Accessed Oct. 12, 2026, 4:21 p.m. ET.
- OKX public API, liquidation-orders, BTC-USDT and ETH-USDT perpetual swaps, filled orders; notional = contracts × contract value × bankruptcy price. Accessed Oct. 12, 2026, 4:21 to 4:22 p.m. ET.
- Yahoo Finance chart API, ^GSPC, ^IXIC, COIN, MSTR, HOOD, CRCL, HUT, MARA, RIOT, CLSK, IREN. Accessed Oct. 12, 2026, 4:21 to 4:22 p.m. ET.
- Nasdaq quote API, XRPN (Evernorth Holdings Inc. Class A Ordinary Shares), "Closed at Oct 12, 2026 4:00 PM ET." Accessed Oct. 12, 2026, 4:23 to 4:25 p.m. ET.
- Yahoo Finance chart API, XRPN one-minute and daily series. Accessed Oct. 12, 2026, 4:21 to 4:23 p.m. ET.
- Evernorth, "Evernorth Names Hugo Jeandesboz Chief Investment Officer," Oct. 12, 2026, 8:00 a.m. ET. Accessed Oct. 12, 2026, 4:22 p.m. ET.
- Evernorth, "Evernorth Completes Business Combination with Armada Acquisition Corp. II," Oct. 9, 2026. Accessed Oct. 12, 2026, 4:21 p.m. ET.
- Evernorth Holdings Inc., Form 8-K, accession 0001193125-26-419146, accepted 4:25 p.m. ET Oct. 9, 2026. Accessed Oct. 12, 2026, 3:02 a.m. ET.
- Strategy, "Strategy Acquires 250 BTC and Repurchases $192 Million of STRC," Oct. 12, 2026. Accessed Oct. 12, 2026, ~4:23 p.m. ET.
- Strategy, Bitcoin Ledger, row reported Oct. 12, 2026. Accessed Oct. 12, 2026, 4:22 p.m. ET.
- Aave Governance, "[ARFC] Onboard USAT to Aave V3 Core Instance and Aave V4 Core Hub on Ethereum," LlamaRisk reply, 2:52 p.m. ET Oct. 12, 2026. Accessed Oct. 12, 2026, 4:23 p.m. ET.
- Aave Governance, "Tether America USD (USAT) on Aave Ethereum Assessments," LlamaRisk, Oct. 12, 2026. Accessed Oct. 12, 2026, 4:23 p.m. ET.
- Standard Chartered, "Standard Chartered launches RLUSD custody and joins planned collateral integration with Ripple and LMAX Group," Oct. 12, 2026. Accessed Oct. 12, 2026, 4:21 p.m. ET.
- SIFMA, holiday schedule, 2026 (Columbus Day, Oct. 12: U.S. bond market closed). Accessed Oct. 12, 2026, 3:17 a.m. ET.
- NYSE, Holidays & Trading Hours, 2026 (Columbus Day not a market holiday). Accessed Oct. 12, 2026, 3:17 a.m. ET.
- Federal Register, Public Inspection current list (latest filed 4:15 p.m. ET Oct. 9). Accessed Oct. 12, 2026, 4:21 p.m. ET.
- SEC, EDGAR latest filings feed (latest acceptance 9:56 p.m. ET Oct. 9). Accessed Oct. 12, 2026, 4:22 p.m. ET.
- Federal Register, FR Doc. 2026-20888, "Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets," publication Oct. 13, 2026; comments close Dec. 14, 2026. Accessed Oct. 12, 2026, 4:24 p.m. ET.
- Federal Register, FR Doc. 2026-20466, "Adviser and Regulated Fund Custody Rules; Crypto Custody Rules," Oct. 6, 2026; comments close Dec. 7, 2026. Accessed Oct. 12, 2026, 4:24 p.m. ET.
- Strategy Inc, DEF 14A, accession 0001193125-26-413159, filed Oct. 5, 2026. Accessed Oct. 12, 2026, 4:23 p.m. ET.
Holding the Corner.
Not financial advice.