Exchanges· ★★★· neutral·

Evernorth cannot book XRP gains as income due to Ripple related-party status

  • —Evernorth acquired about 473 million XRP and $300 million in cash in the Armada Acquisition II merger
  • —XRP is excluded from fair-value accounting due to Evernorth's related-party status with Ripple
  • —XRPN shares and XRPNW warrants started trading on Nasdaq on October 12
  • —Potential additional impairment on XRP was estimated at $6.9 million based on a $0.99 low
Why it matters: Investors will not see XRP gains in Evernorth's financials, potentially distorting the company's valuation amid token volatility.
#XRP
Source: TokenPost
More on this
Exchanges · Oct 1
Evernorth to Debut on Nasdaq October 8 With 473 Million XRP on Its Books
 DeFi · Oct 8
THORChain booked 63% of its record $3M September income during Bitget hack-linked surge
 Exchanges · Sep 26
Oura IPO oversubscribed 4x as Binance and Coinbase roll out related products