Trident Digital Tech’s Stock Plunges Amid XRP Treasury Plan
Trident Digital tech Holdings experienced a dramatic stock drop on Thursday, falling nearly 40%.The shares tumbled from $0.45 to under $0.20 after a major proclamation.
The Singapore-based company plans to establish a $500 million XRP Treasury. This initiative involves acquiring XRP tokens as long-term assets, using them for staking to earn returns, and boosting involvement in the Ripple network.
Chaince Securities LLC has been appointed as the strategic advisor for this project. Funding will come from equity issuance, structured financing, and strategic placements.
Trident is in talks with crypto foundations and institutional partners to secure favorable terms for XRP acquisition and related infrastructure. CEO Soon Huat Lim stated, “We see digital assets as key enablers in the evolution of the global financial landscape.”
Despite Trident’s vision of pioneering blockchain-native corporate finance, investors reacted negatively. The XRP Treasury is set to launch in the second half of 2025, pending approvals and market conditions.
While the company sees this as a step towards transforming the financial landscape, the stock’s sharp decline shows skepticism from the market. The initiative aims to leverage blockchain technology’s potential.
