PANews April 20 news, on-chain detective ZachXBT tweeted that Kraken will launch Memecore (token: M) spot trading on July 3, 2025, and its due diligence process has been questioned. On-chain data shows that approximately $7.9 million equivalent of M has been withdrawn from Kraken to 18 newly created addresses, with about 11.7 million M (currently worth approximately $39.8 million) concentrated in the related addresses. ZachXBT stated that suspected insiders of the project have manipulated M to rise to a market value of approximately $6 billion (fully diluted valuation of $18 billion), and Kraken is one of the few platforms supporting M spot trading.

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