Marvell said it now expects $12 billion in custom AI chip revenue by fiscal 2029. The company said its partnership with Google could generate up to $120 billion through 2033. The updated outlook points to sustained demand for data-center AI chips.

Armada Acquisition Corp. II (XRPN) tumbled 50.3% on Tuesday to close at $19.20, down from $38.65, after touching an intraday high of $53. The SPAC is set to take the XRP treasury company Evernorth public, but the Nasdaq debut has been pushed back from Oct. 8 to Oct. 9. Armada’s trust account equates to about $10.49 per share, leaving the stock roughly 81% above that level.

Asset manager Brevan Howard has adopted Ripple Prime, deepening its ties to Ripple’s institutional crypto infrastructure. The firm oversees roughly $35 billion in assets and was already an investor in Ripple, having participated in the San Francisco-based company’s $500 million strategic funding round last year. Ripple says its platform processes more than $3 trillion in annual clearing volume and serves over 300 institutional clients, highlighting its expanding reach in global financial markets.

Long-term U.S. Treasury yields climbed to 24-year highs on Wednesday, with the 10-year and 30-year yields touching 5.35% and 5.73%, the highest levels since 2002. European stocks slid, with the Stoxx 600 down 1% and major indexes in France, Germany and Italy posting steep losses. U.S. equities also opened lower, with the S&P 500 off 0.6% and the Nasdaq Composite down 0.8%, while Brent crude rose 1% to above $102 a barrel. The U.S. Treasury Department was set to sell a $39 billion 10-year note tranche later that day.

The U.S. federal government has moved more than $100 million in cryptocurrencies from secure wallets to exchange-linked addresses, including $71.6 million in Bitcoin and $31.63 million in BNB. The Bitcoin transferred appears to be forfeited assets seized in the Bitfinex hack case, while the BNB came from assets seized from bankrupt Alameda Research. The government still holds $27.5 billion in crypto seized through law enforcement actions, but it has not confirmed whether the transferred tokens will be sold.

U.S. Treasury yields and oil prices rebounded, prompting investors to turn more cautious as the S&P 500 and Nasdaq slipped from record highs. Brent crude climbed back above the psychologically important $100 a barrel mark. The Dow fell more than 470 points, while eight of the S&P 500’s 11 sectors traded lower led by materials and industrials. Energy and healthcare edged higher.

Ripple said it has reached an enterprise partnership with Brevan Howard, a hedge fund manager with $35 billion in assets under management. Brevan Howard’s investment teams will use Ripple Prime, Ripple’s multi-asset brokerage platform, for services including clearing, lending, multi-asset management and swaps between fiat and digital assets. Brevan Howard said it expects the platform to improve operational ease and capital efficiency.

Paxos Crypto Brokerage said its platform now supports XRP. The token has been in circulation since 2012 and is held across more than 8.1 million wallets, with a market capitalization of nearly $95 billion. Paxos partners can now offer XRP to clients through the company’s regulated brokerage platform.