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Evernorth Lists on Nasdaq with 473 Million XRP, New CIO Plans to Utilize XRP Reserves for DeFi Strategies
Evernorth (XRPN), a company operating a public XRP treasury, debuted its Class A shares and warrants on Nasdaq after merging with SPAC Armada. The company's treasury holds 473 million XRP (approximately $672 million) and $300 million in cash. Hugo Zhandeboz, the new Chief Investment Officer and former Co-CIO of Coinbase Asset Management, announced that the XRP reserves will be utilized for credit derivative strategies and DeFi liquidity pools to enhance earnings per share.
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