XRP Price at $1.37 Leaves Evernorth’s $214M XRP Buy 46% Underwater

Evernorth named former Coinbase Asset Management co-CIO Hugo Jeandesboz to run its 473 million XRP treasury on debut day, and XRPN still closed at $16.91, 68% below its $53 high. Evernorth used its first day as a Nasdaq-listed company to name Hugo Jeandesboz as its chief investment officer (CIO) . He was most recently co-CIO of Coinbase Asset Management and, before that, Coinbase’s lead derivatives trader covering options, futures and onchain markets. Earlier in his career, he traded interest rate derivatives at HSBC in New York and fixed income at Société Générale.