[Kraken Questioned for Insufficient Due Diligence Before Listing Memecore] On-chain investigator ZachXBT tweeted that Kraken launched spot trading for Memecore (token: M) on July 3, 2025, and its due diligence process has been called into question. On-chain data shows approximately $7.9 million worth of M was withdrawn from Kraken to 18 newly created addresses, with around 11.7 million M (currently valued at approximately $39.8 million) concentrated in these related addresses. ZachXBT stated that suspected insiders from the project manipulated M's price, pushing its market cap to approximately $6 billion ($18 billion fully diluted valuation). Kraken is one of the few platforms supporting spot trading for M.