Ripple co-founder Chris Larsen immediately transferred 50 million XRP (roughly $124 million) from his private cryptocurrency pockets. In line with on-chain information, the XRP in query was despatched to an unknown pockets.
The transaction is linked to a press launch launched on the identical day. Nevada-based startup Evernorth immediately introduced its official launch. The corporate, which was based to advertise institutional adoption of XRP, has entered right into a merger settlement with a SPAC referred to as Armada Acquisition Corp II (Nasdaq: AACI). After the merger, the brand new firm might be referred to as “Evernorth” and can commerce on the Nasdaq beneath the image “XRPN.”
In line with a press launch, the deal is predicted to generate whole proceeds of greater than $1 billion. Distinguished traders akin to SBI Group, Ripple, Ripple Works, Pantera Capital, Kraken, and GSR will take part on this financing. Ripple co-founder Chris Larsen can be reportedly among the many traders.
The vast majority of the proceeds might be used to construct the corporate's funds by buying XRP on the open market. The remaining funds will reportedly be used for working capital, overhead and transaction prices.
These developments led to suspicions that Larsen's 50 million XRP switch was for an funding in Evernorth. Nevertheless, no official affirmation has been made by Larsen or Ripple.
*This isn’t funding recommendation.
