XRP treasury Evernorth’s shares rise 5% at Nasdaq opening print
Summary
XRP treasury firm Evernorth Holdings (XRPN) rose as much as 5% on its Nasdaq debut. The company appointed former Coinbase Asset Management co-CIO Hugo Jeandesboz as chief investment officer to oversee its treasury strategy and XRP holdings, including DeFi yield activities. After shareholders approved its combination with Armada Acquisition Corp. II on Oct. 2, Evernorth said it expects to hold about 473 million XRP, then valued at $657 million, which would make it the largest publicly traded XRP treasury company. XRP was trading at $1.39, with a market capitalization of about $87.8 billion.
