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ZachXBT Questions Kraken Listing of Coin M, Alleging Insider Trading

2 hours ago

April 20th: On-chain sleuth ZachXBT tweeted, raising questions about Kraken’s launch of spot trading for M (Memecore) on July 3, 2025. ZachXBT noted that $7.9 million in suspicious funds were withdrawn from Kraken to 18 newly created addresses, which now hold a combined 11.7 million M tokens—worth $39.8 million at current rates. Insiders have pumped the token’s price to a $6 billion market cap, with a fully diluted valuation of $18 billion. Kraken is among the few platforms supporting spot trading for M. In a recent announcement, the project team only highlighted one “achievement”: $66 million in total trading volume on its Launchpad, plus the claim of thousands of “users” from its incentivized InfoFi event.
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Coinbase-incubated x402 Protocol Launches AI Robot App Store Agent.market

On April 21, the x402 Foundation—incubated by Coinbase—launched Agent.market, a unified platform designed to serve as an "App Store" for AI agents. Built on the x402 protocol, the platform lets users and AI agents connect to hundreds of tools and services. Named for the unused HTTP 402 "Payment Required" status code, the x402 protocol enables websites, APIs, and AI agents to request and receive instant micropayments via blockchain and traditional payment rails. Managed as an open standard by the x402 Foundation (a Linux Foundation initiative), the protocol has backing from over 20 organizations and crypto firms—including Cloudflare, Stripe, AWS, Google, Visa, Base, Circle, and the Solana Foundation. Once live, Agent.market will cover seven core categories: Inference, Data, Media, Search, Social, Infrastructure, and Transactions. Participating providers include OpenAI/Venice (Inference), Bloomberg/CoinGecko (Data), LinkedIn/X/AgentMail (Social), AWS Lambda/QuickNode/Alechemy (Infr

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Lido: rsETH Risk Exposure Around $21.6 Million, $3 Million Front Loss Protection to be Activated if Necessary

On April 21, Lido said in a social media post that its EarnETH treasury was hit by a theft of 116,500 rsETH (roughly $292 million) via the Kelp DAO cross-chain bridge on April 18. EarnETH holds around $21.6 million in rsETH/ETH leveraged positions on Aave, accounting for roughly 9% of the treasury’s total assets. The EarnETH team is actively deleveraging to reduce risk, with the outcome dependent on Kelp, LayerZero, and Aave’s final decisions on loss sharing and default handling. Lido added that EarnETH has a $3 million “first-loss protection mechanism” funded by the Lido DAO treasury, which will cover losses if needed. The treasury has temporarily paused redemptions to assess the damage. This incident does not impact stETH or wstETH, as Lido’s core staking protocol was not involved.

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OpenAI Suffers Major Outage

April 20: OpenAI has suffered a major outage, with users currently unable to access ChatGPT, Codex and its API services, per market sources.

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Justin Sun has once again deposited 55.01 million USDT into Spark, bringing the total deposited amount to $179 million.

On April 20th, on-chain analyst Ai Auntie (@ai_9684xtpa) reports that Justin Sun withdrew 55.01 million USDC from HTX just 5 minutes ago, then deposited the funds into Spark. Since his suspected default on Aave, he has cumulatively deposited $179 million worth of assets into the platform.

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Iranian President: Deep-seated Historic Distrust of the United States Persists, Iranians Will Not Bow to Force

April 20 — Iranian President Ebrahim Raisi said Iran has deep historical mistrust of the U.S. government. Mixed, negative signals from American officials send an unwelcome message: they’re trying to force Iran to back down. The Iranian people won’t bow to force.

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The Iranian delegation is planning to travel to Islamabad on Tuesday to hold negotiations with the United States.

April 20th — Two senior Iranian officials familiar with the plan told The New York Times that an Iranian delegation will travel to Islamabad on Tuesday local time for talks with the U.S. The officials added that if U.S. Vice President Vance attends the talks, Iranian Parliament Speaker Kalibaf will also be present.

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