18:14
Several small market capitalization companies announced large-scale plans to purchase encryption tokens, and a VanEck executive raised questions.
According to Gate News bot, The Block reported that Matthew Sigel, head of digital assets at VanEck, expressed his views on the recent cryptocurrency purchase plans of several low market capitalization companies. Singapore-based Trident Digital Tech, with a market capitalization of only $16 million, announced plans to raise $500 million to establish an XRP reserve. Meanwhile, companies like Classover and Webus International, both with market capitalizations of less than $100 million, have also announced plans to establish reserves for Solana or XRP.
Matthew Sigel emphasized that when a company with a very low market capitalization announces a plan for large-scale purchases of Crypto Assets without disclosing anchoring investors, it is essentially a scam (. "If there's no anchoring investors disclosed and the market cap is tiny, it's almost certainly a scam." ).
XRP-0.15%

