Report Reveals Ripple Founder Larsen's Hidden Influence Over XRP Treasury

CoinNetwork · 2026-03-20T20:44:04+00:00

Protos report indicates that Evernorth's Nasdaq listing presents conflicts of interest, with Ripple co-founder Chris Larsen influencing the transaction through RippleWorks and family trusts, potentially harming public shareholders' interests. The report questions corporate governance, particularly regarding potential profits from Larsen-affiliated entities.

CoinNetwork

2026-03-20 20:44:04

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A report from Protos indicates that the upcoming XRP funds management company Evernorth, which is set to go public, has potential conflicts of interest related to its listing on Nasdaq. Ripple co-founder Chris Larsen, through the nonprofit organization RippleWorks and a family trust, exerts significant influence over the transaction through his investment in the initiating Arrington XRP Capital Fund. A filing with the U.S. Securities and Exchange Commission (SEC) shows that the fund must consult RippleWorks on key decisions, leading to a conflict of interest with public shareholders. Ripple itself also invested XRP in the deal. The report questions corporate governance, as entities associated with Larsen could profit from the XRP price increase before the transaction is completed, while public shareholders face the aforementioned conflicts of interest.

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