Crypto
Evernorth clears vote for Nasdaq debut backed by $710 million XRP treasury
Evernorth's shareholders approved a SPAC merger that will let the company begin trading on Nasdaq under the ticker XRPN, backed by a treasury of 473 million XRP tokens.
The treasury is worth roughly $710 million at current prices.
For beginners A SPAC merger lets a private company reach a public stock exchange faster than a traditional listing process by merging into an already-listed shell company.