Wellgistics Health, a Nasdaq-listed firm with modest revenue and ongoing losses, has integrated the XRP Ledger (XRPL) into its operations—drawing praise from crypto legal advocate Bill Morgan, who called it a step toward real-world business utility. But former SEC attorney Marc Fagel wasn’t convinced.
Taking to X (formerly Twitter), Fagel questioned the logic of a financially struggling healthcare company accumulating crypto, warning that such moves raise red flags. “Why would a health startup with minimal assets need a crypto stockpile?” he asked, referencing decades of securities fraud enforcement experience.
Morgan countered that XRP adoption may be a strategic move for fundraising and treasury management, aligning with a growing trend of companies tapping into digital assets—not just as speculative tools, but as infrastructure.
That trend is gaining traction. Nature’s Miracle, a vertical farming firm, recently revealed a plan to allocate up to $20 billion into XRP as a treasury asset. Meanwhile, other healthcare companies are following a similar path. Prenetics Global invested $20 million into Bitcoin, while Kindly MD has already acquired 21 BTC, with plans to expand.
As traditional industries dip their toes into the crypto waters, the divide between legacy regulators and blockchain advocates is becoming sharper. For some, crypto is a bridge to new capital models. For others, it’s still a regulatory minefield.
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