PANews reported on April 20th that blockchain investigator ZachXBT tweeted that Kraken's due diligence process for listing Memecore (token: M) on July 3, 2025, has been questioned. On-chain data shows that approximately $7.9 million worth of M was withdrawn from Kraken to 18 newly created addresses, with approximately 11.7 million M (currently worth approximately $39.8 million) currently concentrated in these addresses. ZachXBT claims that suspected insiders manipulated the market capitalization of M to approximately $6 billion (a fully diluted valuation of $18 billion), and Kraken is one of the few platforms supporting M spot trading.