Matthew Sigel, head of digital assets at VanEck, warns that small Nasdaq-listed companies asserting plans to buy XRP and SOL may be involved in dubious practices, primarily pump-and-dump schemes. These firms often showcase low market values while claiming to raise significant funds for cryptocurrency acquisitions.
Sigel emphasizes a need for diligence among investors, as firms like Trident Digital Tech and Classover Holdings are attempting to generate large amounts of capital despite their minimal market capitalization. The lack of transparency and backing could indicate fraudulent intentions.
Leave a Reply