
XRP-focused treasury company appoints Hugo Jeandesboz as CIO following merger with Armada Acquisition Corp. II
AI-generated summary
Evernorth Holdings merged with Armada Acquisition Corp. II on Oct. 2. The company manages XRP holdings through DeFi yield strategies.
The newly listed shares of XRP-focused treasury company Evernorth Holdings (XRPN) jumped as much as 5% on their Monday Nasdaq stock exchange debut, according to Yahoo Finance data.
Earlier on Monday, the company named former Coinbase Asset Management Co-Chief Investment Officer Hugo Jeandesboz as its new chief investment officer. He will lead treasury strategy, including treasury allocation, liquidity management and the active management of Evernorth’s XRP holdings, according to a Monday announcement.
Evernorth deploys its XRP holdings to earn additional income through decentralized finance (DeFi) yield strategies.
On Oct. 2, shareholders of blank-check firm Armada Acquisition Corp. II approved the plan to combine the company with Evernorth. The company expects to hold about 473 million XRP, currently worth $657 million, which it said would make it the largest publicly traded XRP treasury company.
As for the XRP token, it was recently trading hands at $1.39 apiece with $1.48 billion worth traded in the past 24 hours, according to Coingecko data. At that price, XRP has a market cap of roughly $87.8 billion, making it the fifth-biggest cryptocurrency.

Strategy purchased 250 Bitcoin for $21.5 million last week, bringing its total holdings to 848,250 BTC. The firm also increased its preferred stock repurchases to $192.4 million while maintaining a $4.88 billion US Reserve.

Strategy acquired 250 BTC for $21.5 million and repurchased $192.4 million of its STRC preferred stock. The firm now holds a record 848,250 BTC, with total holdings valued at $64 billion.

Thailand's SEC has finalized regulations for domestic Bitcoin and Ethereum ETFs, effective Oct. 16. The framework promotes local products while restricting retail investor access to foreign crypto ETFs and prohibiting margin loans for these assets.

The Australian Securities and Investments Commission (ASIC) has proposed extending existing CFD trading rules to include contracts settled in digital assets. The move aims to apply leverage caps and investor protections to crypto-based derivatives.

Bitcoin holds $82,500 support ahead of critical US CPI and PPI inflation data. Meanwhile, oil prices rise despite a controversial US-Russia diesel deal and an unverified energy ceasefire announcement between Russia and Ukraine.

Blockchain firm Bitquery reports that address poisoning attacks targeted 4.5 million Solana wallets over 11 months. Scammers use lookalike addresses to trick users into sending funds during transactions, resulting in over $940,000 in identified losses.