Some small corporations with very low market worth are abruptly claiming they are going to purchase massive quantities of XRP and Solana throughout the present crypto bull run. Whereas these bulletins sound huge, they’re elevating severe doubts. Most of those corporations haven’t any sturdy ties to the crypto business and really restricted monetary backing.
Only recently, 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 below $0.40 on Nasdaq.
VanEck: $XRP, $SOL treasury plans by micro caps seemingly scams@vaneck_us’ Head of Digital Property, @matthew_sigel warns that latest XRP and Solana treasury bulletins by low-cap Nasdaq companies are seemingly “pump and dump” schemes. Firms like Trident Digital and Classover…
— CoinNess International (@CoinnessGL) June 13, 2025
Matthew Sigel, VanEck’s Head of Digital Property, believes these strikes are seemingly makes an attempt to spice up the inventory costs of small corporations.
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 value crashes.
“Insider pump and dump makes an attempt—lots 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 latest X submit, Sigel highlighted Addentax Group, a China-based clothes firm with a market cap of just some million {dollars}, which claimed it could 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 proclaims 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 below $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 below $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 elevate that a lot. Only a few months in the past, its market cap was $7 million; now, it stands round $379 million. Sigel believes these small companies are attempting to imitate Michael Saylor’s Bitcoin playbook—however with none actual monetary backing.
