Eightco Holdings Closes $270M Private Placement

Since XRP Ledger has only processed 114.07 million XRP in payments volume over the past 24 hours, XRP has officially fallen out of the 100 million-payment-volume club.

Utility driving XRP?

Compared to recent weeks, when daily transaction volumes easily hovered above the 200-300 million mark and occasionally even approached the 2 billion mark, this represents a significant drop. A drop of this magnitude reveals possible weaknesses in XRP's utility-driven storyline and may have long-term effects on the asset's place on the cryptocurrency market. Chart by TradingView">

The XRP Ledger has consistently been promoted as a blockchain with a payments focus, intended to enable quick, scalable and inexpensive cross-border transfers. XRP's main growth engine is not DeFi, NFTs or smart contracts, as with Ethereum or Solana. Because of this, the most important indicator for evaluating the network's health is the volume of payments.

It is unclear whether Ripples collaborations and institutional adoption initiatives are actually maintaining significant activity, if the number falls below 100 million, indicating a decline in demand for on-chain transfers.

On-chain demand declines

At the moment, XRP is trading beneath a descending trendline that has restrained growth since its strong summer rally, and it is consolidating around $2.97. On the daily chart, XRP is trapped between resistance just below $3.10 and the 50-day EMA around $2.92. XRP might move into more bullish territory if it breaks above this line, but the absence of a corresponding increase in payment volumes raises the possibility that any rally may not have fundamental support.

Reflecting neutral momentum, the RSI is in the middle of the range at about 55. However, there is an overhang caused by the decreasing on-chain volume, which might damage new capital inflows. Price action may remain unchanged or even experience downward pressure, even though technical support zones are currently holding, if network activity does not improve.

XRP's exit from the 100 million payments club is more of a short-term on-chain signal. Because transaction volume, the networks lifeblood, seems to be dwindling, it is important to remain cautious about every new rally originating on the market right now.

Prominent cryptocurrency reference website, CoinMarketCap (CMC), has issued an important warning to the global cryptocurrency community. Scammers continue to spread fake crypto tokens, including counterfeit CMC listings, targeting crypto users worldwide and their funds.

CMC's crucial warning catches community's eye

On its official X account, CoinMarketCap has warned crypto enthusiasts and professional investors and traders about the threat posed to the community by con artists as they continue to offer fake CMC tokens to users.

The data source has once again reminded the community that it does not have any native token or coin. And if anyone sees a promotion for such “CMC tokens”, this is fraudsters trying to pull their leg: “CoinMarketCap does NOT have a Token/Coin. If you see a promotion for CMC-Tokens, it is a Fake/Scam!”

Another important CMC warning

A day earlier, CoinMarketCap also warned the community about impersonators trying to contact retail crypto investors and traders.

The tweet states urges the crypto space to “BEWARE of scammers trying to impersonate CoinMarketCap members.” The CoinMarketCap team does not have any “phone number”, the tweet states. Besides, they would never start calling users anyway, the message says.

If there are any such cases or any doubts as to the legitimacy of those, the callers and/or their offers, the community should contact the CoinMarketCap team for verification.

The undisputed XRP rich list

Ripple Labs is by far the largest XRP owner, controlling around 42% of the total 100 billion supply. This is unsurprising, as it is the company that developed the XRP Ledger and created the XRP digital currency.

The San Francisco-based operation has its massive stake broken down into two categories:

• 4.5 billion XRP in liquid holdings for operational use
• 35 billion locked in escrow.

Ripple runs an escrow release system where a predictable monthly amount of XRP is unlocked. Typically, 1 billion XRP is released per month using a smart contract mechanism on the XRP Ledger.

This is a method for managing supply and maintaining price stability. These released funds are used to fund Ripple’s operational expenses and provide liquidity for its On-Demand Liquidity Service (ODL).

As a part of careful treasury management, Ripple doesn’t flood the markets with fresh XRP every month. Instead, 60% or more of monthly unlocked funds are relocked, with the company not needing the full complement for operational costs.

In an extreme example, if Ripple were to stop relocking tokens, the whole 35-billion escrow stash would be depleted in just three years.

The relocking pattern currently in place means Ripple will likely continue to top the XRP rich list for years to come. For many crypto users, such large control of the supply is uncomfortable. The 42% controlling stake gives it unprecedented influence on the marketing dynamics.

It is basically a double-edged sword that offers flexibility but raises concerns about decentralization and the ethos it backs.

Did you know? There are over 6.6 million active XRP wallets; however, many of these may actually be very small or inactive wallets. Additionally, a notable share of those wallets likely belongs to repeat users who maintain multiple addresses. So, in reality, there might be fewer than 1 million unique XRP holders worldwide.

Chris Larsen’s billionaire empire

You might not be surprised to learn that Ripple co-founder and executive chairman Chris Larsen is the largest individual XRP owner with over 2.5 billion XRP worth around $7 billion.

He distributes his holdings across eight distinct crypto wallets, which are tagged by blockchain explorers.

Of his eight wallets, No. 1 through 4 still contain just over 500 million XRP and have never made any outbound transfers. He received these funds as a founder’s gift in 2013. Although wallet No. 5 has been in selling action during 2025, reducing holdings from 500 million XRP to 280 million.

In July 2025, Larsen made significant sell-offs, hitting the headlines when $175 million worth of XRP was transferred onto exchanges after July 17. These sales coincided with XRP reaching seven-year highs above $3.

Still, Larsen’s total holdings represent 4.6% of the entire XRP market cap. This makes him not just one of the wealthiest XRP owners, but one of crypto’s richest individuals.

Even as an individual, he retains enough XRP to significantly influence market dynamics.

“Wallets linked to Chris Larsen only have another 2.81B XRP ($8.4B) left!” noted ZachXBT on X.

For nearly two weeks, Ethereum has been confined within the $4,255-$4,500 range, in what appears to be a short-term stagnation marked by uncertainty and cautious trader sentiment.

But zooming out, experts suggest that the crypto asset’s overall upward trend remains clear.Ether’s Multi-Front Surge Against Bitcoin

Since early August, ETH has overtaken Bitcoin in spot market dominance, capturing 32.9% of total share against BTC’s 32.6%. During the week of August 18-25, Ethereum’s share peaked at 41%, which coincided with the total ETH spot volume reaching $480 billion compared to Bitcoin’s $400 billion, according to the latest stats shared by CryptoRank.

Futures markets further validate this momentum, as ETH futures volume surpassed Bitcoin’s since mid-July and reached an all-time high of $3.08 trillion in August. Open interest currently stands at $59 billion, about 15% off its peak, showing some cooling but still reflecting substantial positioning.

A critical driver has been Ethereum ETFs, which attracted roughly $10 billion in net inflows in 2025. Cumulative ETF spot volume is approaching $200 billion, now making up 16% of ETH’s total spot volume, which is a record high. Meanwhile, BlackRock’s ETHA dominates this segment, as it handles 74% of ETF trading volume, while ETH ETF assets under management have reached $25 billion, amidst strong institutional interest.

Still, Ethereum ETFs are on their longest outflow streak since April, six consecutive days, whichhintsat short-term momentum loss. On-chain, Ethereum continues to set records with total value locked at $258 billion, monthly active addresses at 51.7 million, and decentralized exchange volume at $140 billion.

Furthermore, exchange balances are at a three-year low, which means that demand remains resilient. While a pause is evident, Ethereum’s broader trajectory suggests further upside potential remains intact.Silent Compression

Altcoin Vector also echoed a similar sentiment in its latest observation and explained that the market phase has shifted away from Ethereum and toward low-cap tokens. This trend has previously signaled waning altcoin focus and often leads capital rotation back into Bitcoin. However, the picture isn’t entirely bearish for ETH.

The analysis highlights that Ethereum may be undergoing an accumulation phase, with compression building beneath the surface. This could potentially set the stage for its next upward leg once momentum returns.

Dan Ives, renowned technology and AI expert and Wall Street analyst, to serve as Chairman of the Board

In an increasingly agentic world, World is delivering critical "Proof of Human" (PoH)

"If we succeed on our mission, World might become the largest network of real people online, fundamentally changing how we interact and transact throughout the Internet" says Sam Altman

The transaction was led by MOZAYYX with a strategic investment from BitMine Immersion (BMNR) and participation from World Foundation, Discovery Capital Management, GAMA, FalconX, Kraken, Pantera, GSR, Coinfund, Occam Crest, Diametric, Brevan Howard, Wedbush and more

EASTON, Pa., Sept. 10, 2025 /PRNewswire/ — ("Eightco Holdings Inc." or the "Company") today announced the closing of its recently announced $270 Million private placement to implement the first-of-its-kind Worldcoin treasury strategy.

The transaction was led by MOZAYYX with participation from a premier list of institutional investors including World Foundation, Discovery Capital Management, GAMA, FalconX, Kraken, Pantera, GSR, Coinfund, Occam Crest, Diametric, Brevan Howard, Wedbush and more. A $20 million investment was made by BitMine Immersion (NYSE AMERICAN: BMNR).

"Since announcing the private placement, we've seen tremendous interest in OCTO and Worldcoin," said Dan Ives, newly appointed Chairman of the Board. "Proof of Human is the next critical step in the AI revolution, and World is uniquely positioned to deliver the trust, verification and authentication that the world needs as AI becomes more deeply embedded in every aspect of our lives."

Proceeds from the private placement will be used for the Company to acquire and hold Worldcoin (WLD) as its treasury reserve asset, while continuing its focus on the core business operations. While the treasury may also hold cash and Ethereum (ETH) as secondary reserve assets, the emphasis will be on Worldcoin.

The Company also announced that the Nasdaq trading symbol for the Company's common stock will be changing to "ORBS." Beginning Thursday, September 11, 2025, shares of the Company's common stock will trade on Nasdaq under the new ticker symbol "ORBS." The Company is not undertaking any other corporate action that affects the rights of outstanding common stock, and no action is required by shareholders in connection with the ticker symbol change.

World creates a zero knowledge (ZK) Proof of Human so a person's human information is not stored on the blockchain. World's proprietary iris-scanning Orb technology is designed to meet the security and identity challenges of the future, offering a path to a universally trusted digital identity and the foundation for the next generation of online trust, verification and economic exchange.

The Orbs are the hardware backbone of Worldcoin, verifying unique humans, distributing tokens fairly, and creating a trusted digital identity system. World will be the leading verification platform for consumers around the world.

RF Lafferty & Co., Inc. acted as the Exclusive Placement Agent in connection with the private placement.

Cantor Fitzgerald & Co. acted as financial advisor to the lead investor, MOZAYYX.

Moelis & Company LLC acted as financial advisor to BitMine Immersion Technologies (BMNR).

Winston & Strawn LLP acted as counsel to the lead investor, MOZAYYX.

Graubard Miller acted as counsel to the Company.

Lucosky Brookman LLP acted as counsel to the placement agent.

The offer and sale of the foregoing securities were made in a private placement in reliance on an exemption from the registration requirement of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder, and applicable state securities laws. Accordingly, the securities offered in the private placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirement of the Securities Act and such applicable state securities laws. Concurrently with the execution of the securities purchase agreements, the Company and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file a registration statement with the Securities and Exchange Commission (the "SEC") registering the resale of the shares of common stock to be issued or issuable in connection with the offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

ABOUT EIGHTCO HOLDINGS INC.

Eightco Holdings Inc. is committed to growth of its subsidiaries, made up of Forever 8, an inventory capital and management platform for e-commerce sellers, and Ferguson Containers, Inc., a provider of complete manufacturing and logistical solutions for product and packaging needs, through strategic management and investment. In addition, the Company is actively seeking new opportunities to add to its portfolio of technology solutions focused on the e-commerce ecosystem through strategic acquisitions. Through a combination of innovative strategies and focused execution, Eightco aims to create significant value and growth for its portfolio companies and stockholders.

For additional details, follow on X:

https://x.com/eightcoholdings

https://x.com/iamhuman_orbs

For images of the Orb with the new Chairman, please visit here.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements of historical fact could be deemed forward looking. Words such as "plans," "expects," "will," "anticipates," "continue," "expand," "advance," "develop" "believes," "guidance," "target," "may," "remain," "project," "outlook," "intend," "estimate," "could," "should," and other words and terms of similar meaning and expression are intended to identify forward-looking statements, although not all forward-looking statements contain such terms. Forward-looking statements are based on management's current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: Eightco's ability to maintain compliance with the Nasdaq's continued listing requirements; unexpected costs, charges or expenses that reduce Eightco's capital resources; Eightco's inability to raise adequate capital to fund its business; Eightco's inability to innovate and attract users for Eightco's products; future legislation and rulemaking negatively impacting digital assets; and shifting public and governmental positions on digital asset mining activity. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. For a discussion of other risks and uncertainties, and other important factors, any of which could cause Eightco's actual results to differ from those contained in forward-looking statements, see Eightco's filings with the Securities and Exchange Commission (the "SEC"), including in its Annual Report on Form 10-K filed with the SEC on April 15, 2025. All information in this press release is as of the date of the release, and Eightco undertakes no duty to update this information or to publicly announce the results of any revisions to any of such statements to reflect future events or developments, except as required by law.

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SOURCE Eightco Holding Inc. (OCTO)

Gemini, the crypto exchange founded by billionaires Cameron and Tyler Winklevoss of Facebook fame, has raised its proposed price range for its initial public offering in the U.S., now targeting a valuation of more than $3 billion.

In an updated S-1 filing with the Securities and Exchange Commission late Tuesday, Gemini said it now anticipates that the IPO price per share of its Class A common stock will be between $24 and $26, up from $17 to $19 previously.

The crypto exchange, whose legal name is Gemini Space Station, Inc., therefore aims to raise up to $433.3 million by selling 16,666,667 shares in the offering at the top end of the price range. This could be extended to 17,119,474 shares if the underwriters exercise their option to purchase additional Class A common stock from Gemini in full. With approximately 118.8 million total Class A and Class B shares outstanding immediately after the offering, that would put the firm's valuation at $3.09 billion.

In an earlier filing on Tuesday, Gemini confirmed that Nasdaq had entered into an agreement to buy $50 million of its Class A common stock in a private placement at a per share price equal to the IPO at close, less underwriting discounts and commissions.

"Based on the initial public offering price of $25 per share (which is the midpoint of the estimated price range set forth on the cover page of this prospectus), Nasdaq, will purchase 2,116,402 shares of our Class A common stock," the firm said in the subsequent filing.

Gemini also confirmed it had signed a term sheet with Nasdaq to give Nasdaq's clients, including listed companies and member firms, access to crypto custody and staking through Gemini. Gemini will share related fees with Nasdaq and also resell Nasdaq's Calypso collateral management solution to its institutional customers. The deal still requires final agreements, expected after the IPO, and Gemini will update investors once the details are finalized.

Gemini aims to debut on Nasdaq this Friday, trading under the ticker "GEMI." It will become the third publicly traded crypto exchange in the U.S., following Coinbase and Bullish.

Figure also lifts price range amid crypto IPO boom

Gemini joins a growing list of crypto companies seeking to go public, including BitGo, Grayscale, Kraken, and Figure. Crypto platform Bullish recently saw its shares jump over 150% on their NYSE debut day last month. Circle, issuer of the USDC stablecoin, also had a blockbuster IPO launch earlier this year.

In its amended S-1 filing on Tuesday, Mike Cagney-founded blockchain-based lending firm Figure Technology Solutions also raised its estimated IPO price range to between $20 and $22 per share from $18 to $20. The company plans to offer approximately 26.6 million shares of its Class A common stock in the IPO, with stockholders providing an additional 4.85 million, bringing the total offering to 31.5 million shares — upsized from around 26.3 million previously.

At the top end of the price range, Figure's IPO would raise roughly $693 million, and value the company at roughly $4.7 billion with approximately 211.7 million total Class A and Class B shares outstanding immediately after the offering, excluding the underwriters' overallotment option.

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