VanEck Head of Digital Assets: Low Market Cap Public Companies Claiming to Build Large-Scale Crypto Reserves May Be Considered Scams
According to ChainCatcher, citing The Block, a recent wave of companies—many with very small market capitalizations—have announced their intention to purchase large amounts of popular altcoins such as XRP and Solana. These companies often come from seemingly unrelated sectors of the business world. Matthew Sigel, Head of Digital Assets at VanEck, stated that these so-called initiatives are most likely attempts to boost the share prices of small-cap companies, many of which are listed on Nasdaq.
Sigel said, “In many cases, it’s insiders trying to pump and dump. If the market cap is negligible and there’s no disclosure of new investors, I consider it a scam.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Data: An address holding 306 BTC reactivated after 12.4 years of dormancy
Atlanta Fed’s GDPNow Model Projects U.S. Q3 GDP Growth at 2.1%
BTC Surpasses 115,000 USD
Trending news
MoreCrypto prices
More








