Ripple co-founder Chris Larsen is exposed to Evernorth Holdings through his controlling shareholder role at Ripple Labs and his Larsen Lam Children’s Remainder Trust. RippleWorks — a nonprofit cofounded by Larsen — is the majority owner of the Arrington $XRP Capital Fund.
The price today has recovered a little bit from its close yesterday, mostly trading above $12.
The firm holds approximately 473 million $XRP.
Evernorth announced on October 26 that it had “entered into a common stock purchase agreement with CF Principal Investments LLC to establish a committed equity facility for up to 5,218,935 Shares of Class A Common Stock.”
It also said, “Assuming the closing stock price of XRPN on October 22, 2026, if fully executed the facility would generate aggregate gross proceeds of approximately $80 million.”
This facility, if used, is intended to support “the acquisition of $XRP and product development in the $XRP ecosystem.”