Evernorth discloses $233.7 million impairment on holdings in SPAC filing

Evernorth Holdings, an XRP treasury company planning to go public via a SPAC merger, disclosed in an S-4 filing that it and Pathfinder Digital Assets held 473.1 million XRP as of December 31, 2025. The filing revealed a $233.7 million digital asset impairment for 2025, reflecting the difference between purchase prices and lower market values. The XRP holdings were acquired through various means, including $214.1 million in cash purchases (averaging $2.54 per token) and significant contributions from Ripple and the sponsor. Evernorth intends to actively manage this treasury using Ripple's RLUSD stablecoin in decentralized finance (DeFi) activities, lending, providing liquidity, and executing options strategies to monetize its assets rather than just holding them.

(Source：CoinDesk)