Evernorth Holdings Appoints Former Coinbase Executive to Oversee XRP Treasury
- Hugo Jeandesboz, former Coinbase executive, is now Evernorth’s Chief Investment Officer.
- Evernorth Holdings holds approximately 473 million XRP tokens in its treasury.
- The company completed a merger with Armada Acquisition Corp. II on October 9, bringing its XRP treasury into public markets.
- Evernorth’s Nasdaq debut under the ticker XRPN occurred on October 12.
- Institutional investors include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR.
Hugo Jeandesboz takes charge of Evernorth’s substantial XRP holdings as the company aims to increase its XRP per share through strategic investments and decentralized finance opportunities. This move follows Evernorth’s recent merger and public market entry.
With approximately $300 million in gross cash proceeds from the merger, Evernorth seeks to leverage Jeandesboz’s experience for active management of its assets and growth strategies involving institutional lending frameworks and DeFi participation.Source
