TechFlow news, June 14 — According to The Block, recently a wave of companies—many with small market capitalizations—have announced intentions to purchase large amounts of popular altcoins such as XRP and Solana. These companies typically come from seemingly unrelated corners of the business world.
Matthew Sigel, VanEck's digital assets head, said these so-called initiatives are likely aimed primarily at boosting the stock prices of small-cap firms, many of which trade on Nasdaq. Many appear to be insider attempts to pump and dump. If the market cap is negligible and there's no disclosure of new investors, I would assume it's a scam.
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