VanEck: XRP, SOL treasury plans by micro caps likely scams

VanEck’s Head of Digital Assets, Matthew Sigel warns that recent XRP and Solana treasury announcements by low-cap Nasdaq firms are likely “pump and dump” schemes. Companies like Trident Digital and Classover Holdings, with market caps under $100 million, claim plans to raise hundreds of millions for crypto buys—moves Sigel says lack credibility without major backers, The Block reported.