VanEck Digital Assets Head Matthew Sigel stated that several low market cap companies have recently announced plans to raise hundreds of millions of dollars to purchase tokens such as XRP or Solana, which may be considered a 'pump and dump' behavior. He pointed out that if a company's market cap is extremely low and it has not disclosed anchor investors, it can generally be viewed as a scam. Singaporean company Trident Digital Tech recently announced plans to raise $500 million to establish an XRP reserve, with a market cap of only $16 million; companies such as Classover and Webus International have also announced plans to establish Solana or XRP reserves, but their market caps do not exceed $100 million. (The Block)