TLDR
- VanEck warns micro-cap firms may fake XRP and Solana treasury news to boost stock prices
- Trident Digital sparks doubt with $500M XRP plan despite having just a $16M market cap
- Solana buying sprees raise flags as low-cap firms chase hype with no real funding
- Crypto buzz turns risky as tiny Nasdaq companies announce billion-dollar treasury plans
- VanEck urges caution as non-crypto firms jump into XRP and SOL with questionable motives
A growing number of small-cap companies are announcing multi-million dollar XRP and Solana treasuries. VanEck has issued a warning that many of these declarations may be deceptive. These low-cap Nasdaq-listed firms are raising concerns for potentially misleading investors without substantial backing.
XRP Treasury Claims Raise Alarm
Singapore-based Trident Digital recently revealed plans to build a $500 million XRP treasury. The firm has a market capitalization of about $16 million and trades at under $0.40 per share. Despite the ambitious target, the company has not disclosed any institutional backers.
VanEck: $XRP, $SOL treasury plans by micro caps likely scams@vaneck_us‘ Head of Digital Assets, @matthew_sigel warns that recent XRP and Solana treasury announcements by low-cap Nasdaq firms are likely “pump and dump” schemes. Companies like Trident Digital and Classover…
— CoinNess Global (@CoinnessGL) June 13, 2025
Another company, Webus International, also disclosed a $300 million XRP treasury plan. This firm, focused on automotive and hospitality, maintains a market cap below $100 million. Its shares currently trade under $3, raising further doubts about funding capability.
VanEck’s digital assets head has labeled such announcements as likely pump-and-dump tactics. These firms have little liquidity and no clear evidence of capital reserves. Hence, the moves appear crafted to influence share prices during a bullish crypto cycle.
Solana Treasury Announcements Questioned
Classover Holdings, an educational technology firm, declared plans to raise $500 million to build a Solana treasury. However, the company trades at less than $4 and has a market cap under $100 million. Its core business is unrelated to crypto, further fueling skepticism.
Another entity, DeFi Development Corp., aims to raise $5 billion to acquire Solana. The firm’s market cap was just $7 million in March but now exceeds $370 million. This rise occurred despite no clear confirmation of secured funding.
DeFi Development signed a share purchase agreement with RK Capital Management. The investment firm manages $500 million. However, questions remain about whether it can underwrite such a large capital raise.
VanEck Flags Insider Pump Risks
VanEck has warned that such micro-cap companies may exploit investor excitement during the crypto rally. The firm suggests many of these moves aim to inflate share prices. Without anchor investors or credible business plans, the announcements lack substance.
Companies issuing these declarations often belong to unrelated sectors. This inconsistency adds to the concern that announcements serve only to attract speculative interest.
Consequently, VanEck urges caution when evaluating such treasury strategies. The firm emphasizes the importance of due diligence, especially in a market fueled by speculative momentum. Investors should verify funding sources and business alignment before reacting to such claims.
Read More
Yasmin Werner