menu
techminis

A naukri.com initiative

google-web-stories
Home

>

Solana News

>

VanEck Rai...
source image

TheNewsCrypto

3w

read

172

img
dot

VanEck Raises Concerns Over XRP and Solana Treasury Schemes

  • Small-cap firms have announced plans to purchase large amounts of cryptocurrencies despite having low market capitalizations, raising concerns among digital asset specialists.
  • VanEck's Matthew Sigel warns that these announcements might be coordinated stock manipulation schemes aimed at artificially inflating stock prices.
  • Several penny stock companies have declared intentions to buy hundreds of millions of dollars worth of cryptocurrencies, even though their financial standing is poor.
  • Sigel points out red flags indicating fraudulent behavior in these announcements, such as lack of industry connections and financial resources to implement the plans.
  • The timing of these announcements often coincides with market rallies, suggesting opportunistic conduct by insiders to drive up share prices before selling at inflated values.
  • Examples of companies making unrealistic crypto treasury announcements include Trident Digital Tech, Addentax Group, and DeFi Development Corp, with market caps significantly lower than their stated purchasing amounts.
  • Industry watchdogs advise caution and recommend investors to verify financial statements and funding potential before making investment decisions based on cryptocurrency treasury holdings.

Read Full Article

like

10 Likes

For uninterrupted reading, download the app