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$500 Million XRP Power Play: Singapore Giant Plans Massive Treasury Move
- Trident Digital Tech Holdings Ltd, a Singapore-based firm listed on Nasdaq, plans to raise up to $500 million to build a large-scale XRP treasury.
- The project is set to commence in the second half of 2025, pending regulatory approval and market conditions, with funding coming from equity sales, strategic investments, and structured deals.
- The company intends to purchase XRP tokens and engage in staking activities to maximize returns, with discussions already underway with major players in the cryptocurrency space.
- Trident aims to establish a long-term corporate XRP reserve, utilizing blockchain tools to modernize cash management and provide transparent updates to shareholders.
- A trend in setting up XRP reserves is emerging with other firms like Webus International, VivoPower International, Wellgistics Health, and Hyperscale Data Inc. also making significant moves in this area.
- Challenges lie ahead for Trident as large token purchases can impact market prices and ongoing legal uncertainties surrounding XRP globally have led to investor caution.
- Trident's stock experienced a nearly 40% drop following the initial announcement, driven by concerns about share dilution and market volatility.
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