XRP’s $17M Dance: Is NASDAQ’s Insurance Broker Moonwalking or Stumbling? 🕺💸

by

In the labyrinthine corridors of crypto media, a whisper has swelled into a cacophony: Reliance Group Global, that modest minnow in the NASDAQ pond, has allegedly splurged $17 million on XRP, the digital darling of the ledger-obsessed. This, according to an SEC filing dated September 30, 2025, where the company, with a flourish of bureaucratic prose, revealed its newfound affection for XRP, nestled cozily beside Bitcoin, Ethereum, and Cardano in its digital treasure chest. 🧮✨

The company, with the gravitas of a fortune teller at a county fair, declared its penchant for “cryptos with strong fundamentals and real world utility.” One wonders if they also collect rare stamps or vintage teapots. 🫖

Reliance’s Digital Dalliance

Reliance Group Global, a NASDAQ-listed insurance broker whose traditional métier involves peddling policies and brokering deals, now fancies itself a pioneer in the blockchain wilderness. The addition of XRP, they claim, is part of a grander scheme to explore digital assets and blockchain technology. Could tokenized insurance policies or blockchain-based payments be on the horizon? Or is this merely a case of FOMO in a suburban New Jersey rental space? 🏢🤔

Reliance Group Global has added XRP to its digital asset treasury. The rumor is XRP valued at $17 million.

The announcement which was filed by the company with the SEC on 30 September 2025, discloses that the company had added XRP to its existing treasury holdings that include…

– bill morgan (@Belisarius2020) October 8, 2025

One cannot help but draw parallels to the pharmacy and travel companies that, like moths to a digital flame, have also embraced XRP, hinting at XRPL-based payment integrations. Are we witnessing the dawn of a new era, or merely a parade of emperors in threadbare finery? 🦋

The $17 Million Mirage

Enter Marc Fagel, former SEC lawyer and modern-day skeptic, who douses the flames of enthusiasm with a bucket of cold, hard reality. “BTW, Bill,” he quips, “where did you get that $17m figure? It’s not in the press release, and is now being bandied about by all the usual scammy crypto blogs. Yet RELI has less than $2m cash on its balance sheet and is losing millions of dollars each quarter.” A mirage, perhaps, in the desert of financial solvency? 🏜️💭

“NASDAQ listed public company” = small insurance broker with significant losses operating out of a suburban NJ rental space. Not exactly being endorsed by Microsoft or nVidia here.

– Marc Fagel (@Marc_Fagel) October 8, 2025

Fagel, with the precision of a surgeon, dissects the company’s portrayal online: “‘NASDAQ listed public company’ = small insurance broker with significant losses operating out of a suburban NJ rental space. Not exactly being endorsed by Microsoft or nVidia here.” One imagines him raising an eyebrow, a monocle optional but implied. 🧐

His barbs raise a specter of doubt: could this modest broker truly afford such a lavish XRP purchase, or is this merely a financial sleight of hand? 🎩🐇

The Community’s Quixotic Defense

Bill Morgan, XRP supporter and attorney, rides to the rescue with the zeal of a knight-errant. He argues that Reliance’s move, far from folly, could be a stroke of strategic genius. Holding crypto assets, he posits, might reduce debt if their value soars, and adopting blockchain technology could slash operational costs. A modern-day Don Quixote tilting at the windmills of financial prudence? 🛡️🌪️

Read More

2025-10-10 07:09