Nasdaq Micro-Caps Make Dubious XRP & SOL Treasury Promises, Warns VanEck

Among the companies in question:

• Trident Digital Tech announced a $500 million XRP treasury plan despite having a market cap under $16 million.
• Classover Holdings, with a market value under $100 million, aims to fund a $500 million Solana treasury.
• Webus International (market cap under $100 million) declared plans for a $300 million XRP reserve.
• DeFi Development Corp. reported a deal to raise $5 billion in shares for a SOL treasury—its market cap skyrocketed from $7 million to $379 million in a few months.

VanEck’s Head of Digital Assets, Matthew Sigel, questioned these strategies, arguing that such announcements—coming from tiny companies—“are scams” unless supported by credible disclosures and substantive backing.

Analysts caution investors to be wary of these speculative narratives, especially in markets prone to manipulation. Without verifiable anchor investors or transparent funding sources, such claims may be designed to inflate share prices for short-term gains.