Evernorth | Crypto

Roughly $88.5 million in closing-linked gross sources remains conditional, with expenses and spending choices deciding additional XRP demand. The post Evernorth’s Nasdaq XRP treasury is approved, but its real buying power isn’t the $300 million expected appeared first on CryptoSlate.

Evernorth expects to begin trading on Nasdaq under the ticker XRPN after its SPAC merger closes, with an XRP treasury worth roughly $710 million at current prices. Evernorth is set to become a publicly traded XRP treasury company after shareholders of blank-check firm Armada Acquisition Corp. II approved their proposed business combination. The deal is expected to close on Oct. 7, with shares of the combined company set to begin trading on Nasdaq under the ticker XRPN the following day, subject to remaining closing conditions. The vote clears a key hurdle after Evernorth filed its Form S-4 registration statement with the US Securities and Exchange Commission in March. The registration statement was declared effective in August, leaving shareholder approval as one of the remaining steps before the Nasdaq listing. Read more

Armada’s August trust balance and a conditional note show possible funding, but redemptions and spending choices will decide any new token purchases. The post Evernorth’s XRP buying power could shrink if SPAC shareholders redeem this week appeared first on CryptoSlate.

Armada II holders can approve and still redeem, making trust cash and public float the measures that matter next. The post Evernorth’s XRP strategy hinges on one number after Nasdaq vote appeared first on CryptoSlate.

The latest crypto downturn is hammering companies that built their business models around holding digital assets. The month-long slide in crypto prices hasn’t just hit major assets like Bitcoin (BTC) and Ether (ETH) — it’s also dealing heavy losses to digital asset treasury companies that built their business models around accumulating crypto on their balance sheets. That’s one of the key takeaways from a recent social media analysis by onchain data company CryptoQuant, which cited XRP-focused treasury company Evernorth as a prime example of the risks in this sector. Evernorth has reportedly seen unrealized losses of about $78 million on its XRP position, mere weeks after acquiring the asset.  Read more

The latest crypto downturn is hammering companies that built their business models around holding digital assets. The month-long slide in crypto prices hasn’t just hit major assets like Bitcoin (BTC) and Ether (ETH) — it’s also dealing heavy losses to digital asset treasury companies that built their business models around accumulating crypto on their balance sheets. That’s one of the key takeaways from a recent social media analysis by onchain data company CryptoQuant, which cited XRP-focused treasury company Evernorth as a prime example of the risks in this sector. Evernorth has reportedly seen unrealized losses of about $78 million on its XRP position, mere weeks after acquiring the asset.  Read more

The latest crypto downturn is hammering companies that built their business models around holding digital assets. The month-long slide in crypto prices hasn’t just hit major assets like Bitcoin (BTC) and Ether (ETH) — it’s also dealing heavy losses to digital asset treasury companies that built their business models around accumulating crypto on their balance sheets. That’s one of the key takeaways from a recent social media analysis by onchain data company CryptoQuant, which cited XRP-focused treasury company Evernorth as a prime example of the risks in this sector. Evernorth has reportedly seen unrealized losses of about $78 million on its XRP position, mere weeks after acquiring the asset.  Read more

XRP is holding around $0.49 following news that Japan’s GUMI Inc. has joined Ripple and SBI Group in backing Evernorth’s XRP treasury business. The post [LIVE] XRP Price Developments, October 22: Japanese Firm GUMI Joins Ripple and SBI in Evernorth’s XRP Treasury Deal appeared first on Cryptonews.