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Evernorth appoints former Coinbase executive Hugo Jeandesboz to steer 473 million XRP treasury

Ripple-backed Evernorth has appointed former Coinbase Asset Management co-CIO Hugo Jeandesboz as chief investment officer to oversee its 473 million XRP treasury as the company lists on Nasdaq under the ticker XRPN.

Official Evernorth leadership announcement graphic featuring a portrait of Chief Investment Officer Hugo Jeandesboz.
Image: @Crypto_Briefing

Evernorth has named Hugo Jeandesboz, previously co-chief investment officer at Coinbase Asset Management, as its chief investment officer. Jeandesboz is tasked with steering the company's treasury of 473 million XRP, a holding valued at approximately $672 million, as the firm commences trading on Nasdaq under the ticker XRPN.[1][2][3][4]

In his new role, Jeandesboz will oversee treasury allocation, liquidity management, and active deployment strategies. According to The Block, Evernorth plans to put its XRP reserves to work through lending, liquidity provision, and yield-generation initiatives.[1][2]

The Ripple-backed firm experienced choppy trading around the announcement. Shares of XRPN opened 17% higher on their Nasdaq debut before dropping nearly 5% later in the session, according to CoinGape.[5]

Key facts

  • Evernorth appointed former Coinbase Asset Management co-CIO Hugo Jeandesboz as its Chief Investment Officer.
  • Jeandesboz will oversee an XRP treasury holding 473 million tokens, valued at approximately $672 million.
  • Evernorth plans to deploy its XRP reserves using lending, liquidity provision, and yield strategies.
  • Evernorth trades on Nasdaq under the ticker XRPN.
  • XRPN shares dropped nearly 5% on their Nasdaq debut after opening 17% higher.

Sources 路 5 sources

  1. CB

    Crypto Briefing@Crypto_BriefingPost on X 路

    馃搱NEW: ripple:native treasury firm Evernorth appoints former Coinbase Asset Management co-CIO Hugo Jeandesboz as chief investment officer ahead of its Nasdaq debut. He will oversee treasury allocation, liquidity management and the active deployment of Evernorth鈥檚 473M XRP holdings.

    Open source
  2. TB

    The BlockArticle 路

    Evernorth names former Coinbase investment exec to steer 473 million XRP treasury ahead of Nasdaq debut Evernorth plans to put its XRP holdings to work through lending, liquidity provision and yield strategies.

    Open source
  3. TW

    The Wolf Of All Streets@scottmelkerPost on X 路

    EVERNORTH $XRPN NAMES FORMER COINBASE $COIN ASSET MANAGEMENT CO-CIO HUGO JEANDESBOZ AS CHIEF INVESTMENT OFFICER TO STEER ITS 473M $XRP TREASURY WORTH ~$672M AS IT BEGINS NASDAQ TRADING TODAY

    Open source
  4. CB

    Crypto BriefingArticle 路

    Evernorth names Coinbase veteran Hugo Jeandesboz CIO as XRPN starts trading on Nasdaq Evernorth's active management strategy could redefine corporate crypto treasuries, offering potential growth but introducing new risks. The post Evernorth names Coinbase veteran Hugo Jeandesboz CIO as XRPN starts trading on Nasdaq appeared first on Crypto Briefing .

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  5. CO

    CoinGape@CoinGapeMediaPost on X 路

    馃毃 Evernorth Names Ex-Coinbase CIO @Ripple-backed @evernorthxrp appointed #Hugo Jeandesboz to lead its #XRP treasury strategy, while XRPN shares fell nearly 5% after opening 17% higher on Nasdaq debut day. 馃敆 Full story in comments

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