Some small firms with very low market worth are out of the blue claiming they are going to purchase giant quantities of XRP and Solana through the present crypto bull run. Whereas these bulletins sound massive, they’re elevating critical doubts. Most of those firms haven’t any robust ties to the crypto business and really restricted monetary backing.
Only in the near past, Singapore-based Trident Digital Tech introduced plans to lift $500 million to construct a large XRP treasury, regardless of having a market cap of simply $16 million and shares buying and selling beneath $0.40 on Nasdaq.
VanEck: $XRP, $SOL treasury plans by micro caps doubtless scams@vaneck_us’ Head of Digital Property, @matthew_sigel warns that current XRP and Solana treasury bulletins by low-cap Nasdaq companies are doubtless “pump and dump” schemes. Firms like Trident Digital and Classover…
— CoinNess World (@CoinnessGL) June 13, 2025
Matthew Sigel, VanEck’s Head of Digital Property, believes these strikes are doubtless makes an attempt to spice up the inventory costs of small firms.
Penny Shares to Crypto Giants? VanEck Doubts It
He means that many of those bulletins are insider-driven pump-and-dump schemes, the place firm insiders hype up information to inflate the inventory value, then promote their shares for a revenue earlier than the worth crashes.
“Insider pump and dump makes an attempt—a lot of them. If the market cap is de minimis and there’s no disclosure of recent anchor buyers, I assume it’s a rip-off,” he stated.
In a current X submit, Sigel highlighted Addentax Group, a China-based clothes firm with a market cap of only a few million {dollars}, which claimed it might purchase $800 million value of Bitcoin and TRUMP coin. He blurred the ticker, warning followers to not take such claims significantly.
When a $3M market cap US-listed penny inventory with all Chinese language administration declares plans to purchase $800M of BTC & TRUMP coin, you do not submit the ticker. pic.twitter.com/TbwGT8bSU4
— matthew sigel, recovering CFA (@matthew_sigel) Could 15, 2025
DeFi Dev Corp Joins the Treasury Craze
Earlier this month, Classover Holdings—an ed-tech agency with shares beneath $4 and a market cap beneath $100 million—introduced plans to lift $500 million for a Solana treasury. Equally, China’s Webus Worldwide, additionally with a market cap beneath $100 million, revealed plans to construct a $300 million XRP treasury.
DeFi Improvement Corp. is taking the crypto treasury development a step additional. On Thursday, it introduced a deal to promote as much as $5 billion value of its shares to construct a Solana treasury. Not like others, the corporate claims that is its major enterprise focus.
Whereas the announcement boosted its inventory, many doubt the agency can increase that a lot. Just some months in the past, its market cap was $7 million; now, it stands round $379 million. Sigel believes these small companies try to imitate Michael Saylor’s Bitcoin playbook—however with none actual monetary backing.
