Even with a US$ 100 million investment in OOB, VCI Global's shares plummet 99.9% this year

The story of OOB is a classic example of how large investments cannot save a project in free fall. VCI Global’s shares plummeted an astonishing 99.9% since the beginning of the year, a collapse that leaves any investor in shock, regardless of the support the company received.

The funding that didn’t take off

Tether and Anatoly Yakovenko, co-founder of Solana, injected US$ 100 million into OOB tokens in the company. It sounds quite ambitious on paper, right? The detail is that 98.4% of this movement was made through share swaps, not as real capital entering the cash flow. Tether held 39.8% of the PIPE shares, consolidating its presence in the ecosystem.

The numbers that tell the truth

On December 4th, shares hit a volume peak: 5.7 million shares traded, tripling the average of the previous 30 days. But the market was not fooled. The market cap shrank to a ridiculous US$ 7.66 million, while the share price closed at US$ 1.17 — well below the IPO adjusted price of US$ 1,440.

Solana as a lifeline?

Solana’s TVL reached US$ 10 billion in November, a positive sign. Oobit even migrated to the Solana blockchain seeking faster liquidations. Still, the shares continued to tumble, completely ignoring these technical developments.

The RWA authorization no one asked for

In early December, the company announced an authorization for RWA (Real World Assets) worth US$ 200 million. A move that seemed strategic, but the market maintained its pessimistic and distrustful stance.

The moral of the story: neither heavyweight investments, well-known names, nor strategic moves could prevent the 99.9% drop in shares. The market spoke clearly.