Evernorth secures about 470 million XRP…$230 million unrealized loss last year

JOON HYOUNG LEE

Summary

In an S-4 filing submitted to the U.S. SEC, Evernorth Holdings said it holds about 473.10 million XRP.
In the filing, Evernorth Holdings disclosed that it recorded $233.70 million in impairment losses on XRP-related digital assets last year.
Evernorth Holdings said it will pursue XRP-based DeFi activities, Ripple’s dollar stablecoin RLUSD, XRP lending, providing liquidity to automated market makers (AMMs), and options strategies such as covered calls.

Forecast Trend Report by Period

Evernorth Holdings, a U.S. digital-asset treasury (DAT) company that stockpiles XRP, posted an unrealized loss of $230 million on its XRP investment last year.

According to CoinDesk on the 19th (local time), Evernorth Holdings said in an S-4 filing recently submitted to the U.S. Securities and Exchange Commission (SEC) that it held about 473.10 million XRP as of the end of last year.

The company also disclosed in the filing that impairment losses on XRP-related digital assets totaled $233.70 million last year. CoinDesk reported that “(the impairment loss) was due to the market value at the time of disclosure being lower than (Evernorth’s) purchase price.”

Evernorth said it plans to actively deploy its XRP holdings. In the filing, it said it intends to use Ripple’s dollar stablecoin RLUSD for XRP-based DeFi activities. It is also pursuing XRP lending, providing liquidity to automated market makers (AMMs), and running options strategies such as covered calls.

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