XRP treasury company Evernorth Holdings disclosed in its SPAC listing-related S-4 filing that its digital assets experienced an impairment of approximately $233.7 million in 2025, primarily due to the difference between the purchase cost and the market price during the reporting period. The document shows that by the end of 2025, Evernorth and Pathfinder Digital Assets held approximately 473.1 million XRP, of which the company purchased 84.4 million XRP for about $214.1 million, with an average cost of approximately $2.54 per coin, while the current XRP price is about $1.45, a decrease of about 35% from the cost. Evernorth stated that it will actively manage its XRP reserves rather than hold them passively, planning to introduce the RLUSD stablecoin to participate in decentralized finance transactions within the XRP ecosystem, including the construction of RLUSD/XRP liquidity pools, while enhancing asset returns through lending XRP, providing AMM liquidity, and options strategies such as covered calls and cash-secured puts.