Brief
Evernorth Holdings jumps up to 5% on Nasdaq debut
The newly listed XRP treasury firm saw its stock climb as it named a former Coinbase executive to lead its investment strategy.
By Felo News Desk · Published
Shares of XRP‑focused treasury company Evernorth Holdings (ticker XRPN) rose as much as 5% on their Nasdaq debut on Monday, according to Yahoo Financedata.
What happened
The company opened trading on the Nasdaq and immediately posted a gain of up to five percent. The surge coincided with the announcement that former Coinbase Asset Management co‑Chief Investment Officer Hugo Jeandesboz would become Evernorth’s chief investment officer.
What the report adds
Cointelegraph noted that Jeandesboz will oversee treasury allocation, liquidity management and the active management of Evernorth’s XRP holdings. Evernorth deploys its XRP through decentralized‑finance yield strategies.
What was said
The Monday announcement said Jeandesboz will lead the firm’s treasury strategy, though no direct quote was provided.
How it came about
On Oct. 2, shareholders of blank‑check firm Armada Acquisition Corp. II approved a plan to combine with Evernorth, positioning the company to hold roughly 473 million XRP, valued at about $657 million.
Key facts
- Evernorth Holdings shares rose up to 5% on Nasdaq opening (cointelegraph.com)
- Hugo Jeandesboz, former Coinbase Asset Management co‑CIO, was named chief investment officer (cointelegraph.com)
- The firm expects to hold about 473 million XRP worth $657 million (cointelegraph.com)
- Evernouth deploys XRP holdings in DeFi yield strategies (cointelegraph.com)
- Shareholders approved a merger with Armada Acquisition Corp. II on Oct. 2 (cointelegraph.com)
Sources
- [1] cointelegraph.com — originally reported as “XRP Treasury Evernorth’s Shares Up 5% at Nasdaq Opening Print”
