•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Binance and Bitget have launched separate investigations into suspicious trading activity involving RaveDAO’s RAVE token, following allegations that insiders may have engineered a short squeeze to manipulate the token’s price.
Blockchain investigator ZachXBT alleged that insiders could have deliberately engineered a short squeeze. Bitget CEO Gracy Chen confirmed the exchange had begun looking into the matter, while Binance CEO Richard Teng said the platform would examine any signs of market misconduct. Gate was also named in ZachXBT’s findings.
To encourage evidence sharing, ZachXBT offered a $10,000 bounty to whistleblowers willing to submit information privately.
RAVE surged approximately 4,500% over the course of a week, rising from around $0.30 to a peak above $27. The rally coincided with more than $44 million in liquidations in a single day, with most liquidations attributed to bearish short positions.
At its height, RAVE briefly reached a market capitalization above $6 billion before declining sharply. Since the peak, the token has fallen by more than 50%.
Analysts said nearly 90% of RAVE’s total supply was concentrated in three Gnosis Safe wallets during the rally. Investigators also flagged large token transfers to exchanges shortly before prices began climbing, a pattern described by some as a “bait and liquidate” scheme intended to draw short sellers into positions that could be squeezed.
RaveDAO, which describes itself as a Web3 platform for electronic music events and blockchain-based ticketing, denied responsibility for the price movement. In a public statement, the project said it plans to sell portions of unlocked tokens when conditions are appropriate, but it did not provide a specific timeline or binding commitments.
Community reports have linked the project to figures from previous crypto ventures, though those connections remain unverified. CoinDesk reported that it contacted RaveDAO for further comment.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
