Evernorth, a brand new XRP treasury firm, has raised 261 million XRP tokens to this point in its journey to create the world’s largest XRP treasury.
please bear in mind, above October On the twentieth, Evernorth, a digital asset firm based by former Ripple govt Asheesh Birla and backed by Ripple, introduced revealed plans to merge with Armada Acquisition Corp II, a particular function acquisition firm.
as reported by crypto primary, merger I will summarize Within the first quarter of 2026, the mixed firm will debut on the Nasdaq below the ticker XRPN. Via this transaction, Evernorth will spend money on Ripple, SBI, Pantera Capital, Kraken, GSR, and Ripple co-founder Chris Larsen establishes world’s largest XRP vault.
Particularly, knowledge from XRPL explorer XRPScan confirms that the Evernorth (1) deal with, activated by BitGo self-custody on October seventeenth, obtained precisely 261,919,000 XRP, price greater than $639 million on the time of writing.
This deal with obtained these tokens between October twentieth and twenty fourth, and a number of entities supplied allocations. Contributors embody Ripple Chairman Chris Larsen, Ripple Analysis Institute, American change Uphold, and a pockets labeled “Jana.”
Notably, Mr. Larsen first moved to this deal with and transferred 50 million XRP to Evernorth. October 20:15:40 (Coordinated Common Time). The deal initially sparked draw back issues following a disclosure by CryptoQuant analyst Maartunn. Fundamentals of cryptography Confirmed The cash move was truly a part of Evernorth’s fundraising marketing campaign.
After Larsen, Uphold transferred roughly 200,000 XRP to Evernorth’s deal with on October 21 at 09:49 UTC. Subsequent, help Within the transaction, Ripple moved 319,095 XRP to Evernorth at 16:11 UTC on October 23, after which despatched one other 211 million XRP at 16:48 the identical day, for a complete of 211.3 million tokens. In the meantime, the Jana deal with transferred roughly 300,000 XRP in two transactions on October twenty third.
Present holdings usually are not included within the $1 billion fundraising effort
It must be talked about that the whole 261 million XRP that Evernorth has obtained to this point is in XRP tokens and no contributors have despatched stablecoins. Because of this, critics like The self-proclaimed “fraud detective” claimed that of Funding to the XRP treasury is not going to result in shopping for stress on XRP as Evernorth is not going to be shopping for a lot of the tokens.
Nevertheless, WrathofKahneman (WOK), a distinguished determine within the XRP group, identified that the XRP donations from Ripple and Larsen usually are not included within the $1 billion in money that Evernorth plans to make the most of to buy XRP.
#Ripple & Larsen’s 350 million #XRP is separate from the $1 billion in money that Evernorth raised to purchase XRP. It is a starter equipment.
200 million {dollars} from SBI;
$200 million possibility from Ripple,
$600 million from PIPE/public traders will make up $1 billion, which will probably be used to buy XRP inside 10 days after the very fact… pic.twitter.com/0AWk1WFOVD— WrathofKahneman (@WKahneman) October 22, 2025
WOK stated the $1 billion funding contains $200 million from Japanese monetary big SBI Group, $200 million in choices from Ripple, and $600 million from retail traders. Curiously, SBI has already formally acknowledged Its $200 million contribution.
