Evernorth Names CIO as XRP Trades Below Treasury Purchase Level

Evernorth appointed Hugo Jeandesboz as chief investment officer on its first day of Nasdaq trading, according to Bitcoin.com News. He previously served as co-chief investment officer at Coinbase Asset Management.

Jeandesboz will oversee a treasury holding 473 million XRP. The appointment puts him in charge of the company's investment strategy for that digital-asset reserve.

Evernorth's shares, trading under the ticker XRPN, finished the session at $16.91, roughly 68% below their $53 high. With XRP trading at $1.37, the report also put the unrealized loss on a $214 million XRP purchase at approximately 46%.