Ah, October 20, that fateful day when Evernorth Holdings Inc. decided to crash the party of public markets via a SPAC romp with Armada Acquisition Corp II. The cheeky blighters aim to amass the universe’s mightiest institutional XRP hoard – because who needs sensible investments when you can chase digital droplets? The boards nodded yes unanimously, rounding up over a billion bucks in proceeds to do the deed. XRP $2.52, with a 24h volatility of 4.9%, a market cap of $151.16 B, and vol 24h of $4.25 B – numbers that dance like drunken dwarves.
This newborn beastie will squander most of that loot on gobbling XRP from the open market, emerging as “XRPN” on Nasdaq (assuming the gods of regulation approve, which is about as certain as a dragon’s appetite). Investors get a neat, regulated window to XRP’s wild world. Closing? Q1 2026, if shareholders and regs don’t throw a wobbler. 🤑😏
SBI Holdings Lampoons $200 Million Gig
A motley crew is backing this caper, led by SBI Holdings tossing in $200 million like spare change for a broomstick ride. Ripple, Rippleworks, Pantera Capital, Kraken, GSR, and even Ripple co-founder Chris Larsen are piling on, eyes gleaming with avarice.
Ripple’s CEO Brad Garlinghouse and his merry band of execs will dabble as advisers to Evernorth, ensuring operational freedom yet umbilical cords to the XRP fraternity, per the release that’s as exciting as a witch’s cauldron bubbling over.
Asheesh and team are building something special with @evernorthxrp. We are proud to partner with him – and proud to join an incredible set of investors including SBI Holdings, Pantera Capital, Kraken, GSR and Rippleworks, to support Evernorth as it participates in institutional…
– Brad Garlinghouse (@bgarlinghouse) October 20, 2025
Active Shnnnuffling for DeFi Gold
No lazy ETF snoozing for Evernorth; nay, it’s an active merry-go-round, ramping up XRP per share via lending empires, liquidity puddles, and DeFi yield mines – the sort of thing that makes accountants weep with joy.
The goal? Spin shareholder gold while boosting XRP’s usefulness by playing validator charades and romancing Ripple’s RLUSD stablecoin. Because why just own coins when you can make them work the night shift? 😂
XRP Price Leaps 2.4% – Institutional Madness Strikes!
The proclamation sent XRP’s price leaping 2.4% in 24 hours, courtesy of CoinMarketCap. While the crypto seas stayed calm, XRP strutted like the day’s prima ballerina among gainers.
Graphic price of XRP at the time | Source: CoinMarketCap
Sundry firms dabble in XRP stashes, but Evernorth’s spectacle dwarfs them all. Compare with the classics:
- VivoPower clutched $100 million in XRP for its digital whimsy.
- Nature’s Miracle Holding Inc. snagged $20 million earlier this year in its treasury trickery.
- Hyperscale Data pledged $10 million in 2025, eyeing cross-border shenanigans.
These are mere nibbles compared to Evernorth’s billion-dollar binge and managed tomfoolery. It heralds a new era where firms treat blockchain baubles as their piggy banks. With XRP’s DeFi circus thriving and Ripple’s lawsuit dust settled, it’s the digital equivalent of finding gold in a troll’s beard. Roll on the madness! 🙄🔥
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2025-10-21 00:43