473 million tokens, three sources, one total
On September 30, shareholders of a U.S. shell company voted to approve a merger with a digital asset treasury company: 20.5 million shares in favor and 1.4 million against. The merger is scheduled to close on October 7, with the shares set to list on a U.S. major exchange on October 8. One figure has been repeatedly cited: once the deal closes, the company will hold about 473 million XRP, worth roughly $710 million at the time.
I traced those 473 million tokens transaction by transaction: about 127 million were contributed directly by the protocol sponsor, not purchased; about 84.37 million came from a $214 million private placement; the bulk of the remainder came from trust-account funds, net of shareholder redemptions. Those three sources add up to 473 million tokens; about 347 million are currently held.
Several companies report their reserves in different ways. XRP closed at $1.5086, flat over 24 hours and up 1.20% over seven days, with about $231 million in trading volume over that period. The 473 million tokens will not appear in public filings until the deal closes. Chainlink’s on-chain reserves are about 6.0475 million tokens, worth roughly $88 million. Bittensor has no such category; its treasury share comes from an ongoing distribution of roughly a quarter of base issuance, and stands at $302.62 per token. Each of the three columns follows its own clock: one follows the closing date, one a weekly mechanism, and one every block.
One thing does not add up: the column tied to the closing date cannot even be checked yet, while, before the deal closes, shares in the shell company rose from $10.58 to $39.42 in four trading days. The company says its strategy is to increase the number of XRP per share, but that per-share denominator will not exist until listing day.
Here is my conclusion upfront: the significance lies in the number of sources, while several companies report the same total. If the first quarterly report lists the contribution and trust-account sources separately, and combines the three sources into no more than two, that would mean the merger has filled in this column—and my reading would be invalidated. If the three sources remain distinct, I will continue to track them as three. Public filings give only the total for these 473 million tokens; to find the missing details, each transaction has to be checked on Binance: XRP spot purchase prices and Earn balances are all publicly available. This article records an opinion and does not constitute investment advice. $DASH
$RAD
$SEI
#xrp财库公司evernorth完成spac合并
On September 30, shareholders of a U.S. shell company voted to approve a merger with a digital asset treasury company: 20.5 million shares in favor and 1.4 million against. The merger is scheduled to close on October 7, with the shares set to list on a U.S. major exchange on October 8. One figure has been repeatedly cited: once the deal closes, the company will hold about 473 million XRP, worth roughly $710 million at the time.
I traced those 473 million tokens transaction by transaction: about 127 million were contributed directly by the protocol sponsor, not purchased; about 84.37 million came from a $214 million private placement; the bulk of the remainder came from trust-account funds, net of shareholder redemptions. Those three sources add up to 473 million tokens; about 347 million are currently held.
Several companies report their reserves in different ways. XRP closed at $1.5086, flat over 24 hours and up 1.20% over seven days, with about $231 million in trading volume over that period. The 473 million tokens will not appear in public filings until the deal closes. Chainlink’s on-chain reserves are about 6.0475 million tokens, worth roughly $88 million. Bittensor has no such category; its treasury share comes from an ongoing distribution of roughly a quarter of base issuance, and stands at $302.62 per token. Each of the three columns follows its own clock: one follows the closing date, one a weekly mechanism, and one every block.
One thing does not add up: the column tied to the closing date cannot even be checked yet, while, before the deal closes, shares in the shell company rose from $10.58 to $39.42 in four trading days. The company says its strategy is to increase the number of XRP per share, but that per-share denominator will not exist until listing day.
Here is my conclusion upfront: the significance lies in the number of sources, while several companies report the same total. If the first quarterly report lists the contribution and trust-account sources separately, and combines the three sources into no more than two, that would mean the merger has filled in this column—and my reading would be invalidated. If the three sources remain distinct, I will continue to track them as three. Public filings give only the total for these 473 million tokens; to find the missing details, each transaction has to be checked on Binance: XRP spot purchase prices and Earn balances are all publicly available. This article records an opinion and does not constitute investment advice. $DASH
$RAD
$SEI
#xrp财库公司evernorth完成spac合并