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Ripple-backed Evernorth registers 73.7 million shares after weak Nasdaq debut

Ripple-backed Evernorth registers 73.7 million shares after weak Nasdaq debut
AI summary

Evernorth, an XRP treasury company backed by Ripple, filed to register 73.7 million shares for potential resale after its stock plunged following its Nasdaq debut. The Oct. 30 SEC filing names Ripple Labs, Arrington XRP Capital and affiliates of Japan's SBI Holdings among investors whose holdings could eventually hit the public market. The large selling overhang pressures Evernorth's share price and weighs on sentiment around XRP treasury vehicles.

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