Ripple CEO Brad Garlinghouse Joins Evernorth as Strategic Advisor After $1B Launch

TLDR

• Ripple CEO Brad Garlinghouse has been appointed as a strategic advisor to Evernorth.
• Evernorth launched in October through a $1 billion transaction with $200 million in support from SBI Holdings.
• Ripple executives Stuart Alderoty and David Schwartz also joined Evernorth’s advisory team.
• Evernorth used part of the raised funds to conduct open-market purchases of XRP.
• The company confirmed its structure ensures alignment with Ripple while maintaining operational independence.

Ripple CEO Brad Garlinghouse has joined Evernorth as a strategic advisor following the firm’s $1 billion launch in October; Ripple executives David Schwartz and Stuart Alderoty are also listed as advisors, while Evernorth confirms XRP purchases and SBI’s $200 million contribution. Meanwhile, RippleX has issued an upgrade alert for XRP Ledger Version 3.0.0.

Evernorth Leadership and Ripple CEO’s Strategic Role

Evernorth confirmed the appointment of Ripple CEO Brad Garlinghouse as a strategic advisor in its latest leadership announcement on X. The leadership team includes Ripple’s Chief Legal Officer Stuart Alderoty, and Chief Technology Officer David Schwartz. This move aligns Evernorth with Ripple’s broader ecosystem while preserving its operational independence, according to the firm’s official release.

Garlinghouse’s involvement supports ongoing coordination between Ripple and Evernorth, which manages XRP-related initiatives and treasury functions. Evernorth launched in October through a $1 billion transaction, with SBI Holdings contributing $200 million in capital.

Ripple also joined the funding round, along with Rippleworks, Pantera Capital, Kraken, GSR, and Ripple cofounder Chris Larsen. The firm stated, “We structured our governance to ensure ecosystem alignment while maintaining strategic and operational independence.”

A portion of the funds was allocated to XRP open-market purchases, with the rest covering working capital and transaction costs. Evernorth emphasized the independence of its treasury operations from Ripple’s direct control despite shared investment ties.

XRP Ledger Upgrade Alert Issued by RippleX

RippleX has issued an alert urging validators and node operators to update to XRP Ledger (XRPL) Version 3.0.0 immediately. The upgrade notice was shared across RippleX’s official communication channels to support continuity in network services. RippleX confirmed the release of XRPL 3.0.0 in December 2025 and highlighted fixes for core protocol components.

Among these, the TokenEscrow amendment corrects an internal bug involving escrows with transferable tokens (MPTs). According to RippleX, “TokenEscrowV1 fixes incorrect accounting behavior discovered during internal testing.”

This version replaces a previous version of TokenEscrow, which was never deployed to mainnet due to the flaw. RippleX stressed the urgency of adoption by operators to avoid sync issues and keep ledger performance stable.

Validators are expected to complete the upgrade process as soon as possible to maintain consensus participation. The release comes as part of RippleX’s routine improvements to XRPL’s utility and functionality.

XRP Crosses $2.40 on Volume Surge

XRP surged past $2.40 on Tuesday, gaining 11% within 24 hours and extending its early 2026 rally. The price reached $2.41, driven by one of the token’s highest trading volume spikes since December. On Monday, U.S.-based spot XRP ETFs recorded $48 million in inflows across multiple platforms. Some of these funds registered their highest daily trading volumes since launch.

The strong demand contributed to the upward momentum as XRP continues gaining traction into the new year. Evernorth’s XRP purchases and market activity have intersected with broader interest in XRP-focused investment products.

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