Crypto
Moo Deng now has her own cryptocurrency — but cuteness aside, it may be best to invest elsewhere
NEW YORK, Sept 29 — Given the popularity of baby pygmy hippo, Moo Deng at Thailand’s Khao Kheow Open Zoo a zoo in Thailand — it was only a matter of time before she would have dedicated cryptocurrency.
And given that memecoins, which have zero underlying value and trade purely on vibes and hype, it’s no surprise Moo Deng Coin has shot up 1,400% since it was created less than three weeks ago, reported CNN.
On September 10, an anonymous trader whose Solana wallet address starts with “Db3P” bought 6 SOL worth of a new meme coin called Moo Deng.
That US$800 (RM3,300) investment, made four hours after the token was launched, was worth around US$7.5 million (RM30.9 million) worth of the pygmy hippo tokens on Friday, according to blockchain data.
That’s up from US$3.5 million (RM14.4 million) early Thursday, when Arkham Intelligence last rang the bell about the trader’s incredible gains.
Decrypt examined blockchain data on Friday, and found that approximately 30.2 million MOODENG tokens are still being held between the main wallet and three others, following transfers to those wallets last week.
The as-yet-unidentified trader has faced accusations across Twitter of being an “insider” who got an early jump on the coin, or an undisclosed team member who is now reaping the rewards.
The fun will likely be over when Db3P actually cashes out, which could signal that the coin’s collapse since the coin isn’t based on anything and has no utility.
Moo Deng coin is the latest product of a niche online culture that also birthed Dogecoin (created as a joke to dunk on bitcoin) and Shiba Inu coin (a joke to dunk on Dogecoin).
Like any fun internet sensation, memecoins tend to have a short lifespan.
Moo Deng’s cuteness may play a part as the driving force behind the new coin, which was up 90% over 24 hours on Friday, trading at about 25 cents (RM1.03) a coin.
The MooDeng coin may look like a worthy investment, but don’t be fooled by the hype. — Image from Solana
The US Federal Reserve’s rate cut last week, and signals of more cuts to come, are also powering a surge in crypto broadly, from the Moo Dengs to the more mainstream bitcoin and ethereum, as looser monetary policy tends to benefit high-risk assets like crypto.
The popularity of the memecoin, which has fluctuated in value, and now appears to be on the slow downtrend has spawned a series of related tokens, including coins dedicated to Moo Deng’s mother, Jonah, and siblings Moo Toon and Moo Waan.
Kraken Valued at $13 Billion After Deutsche Börse Stake
Deutsche Börse has taken a minority stake in crypto exchange Kraken, marking one of the clearest signs yet of Europe’s largest market operator deepening its exposure to digital assets.
The German exchange group said it invested $200 million in Payward, Kraken’s parent company, securing roughly a 1.5% fully diluted ownership. The transaction values Kraken at about $13.3 billion, according to reporting by Bloomberg.
The move builds on an existing relationship between the two firms and signals a broader push to integrate traditional financial infrastructure with crypto markets. The partnership is expected to focus on regulated offerings, including tokenized assets and derivatives, while improving liquidity for institutional clients.
As part of the collaboration, Kraken will integrate with 360T, Deutsche Börse’s foreign exchange trading platform. The connection is designed to provide Kraken users with access to bank-grade foreign exchange liquidity, potentially streamlining the conversion between fiat currencies and digital assets.
The companies also plan to expand the use of Kraken Embed, a service that allows institutions to offer crypto trading and custody under their own brands. The initiative targets banks, fintech firms, and asset managers seeking to enter the digital asset space without building infrastructure from scratch.
Further developments are expected, subject to regulatory approval. These include enabling trading of derivatives listed on Eurex, Deutsche Börse’s derivatives exchange, through Kraken’s platform.
The investment underscores a growing convergence between established financial institutions and the crypto sector. For Kraken, the backing from Deutsche Börse provides capital and strategic alignment with one of Europe’s most influential financial market operators. For Deutsche Börse, the stake offers a direct foothold in a global crypto platform at a time when competition for digital asset infrastructure is intensifying.
The deal also reflects a broader trend of legacy financial firms moving beyond exploratory partnerships toward equity investments in crypto companies. By combining trading, custody, and tokenization capabilities, both firms are positioning themselves to capture a larger share of institutional flows into digital assets.
Key Takeaways:
- Alameda moved $16 million worth of SOL to a wallet linked with repayment efforts, signaling ongoing FTX creditor payouts.
- Alameda still holds 3.5 million SOL ($294 million), meaning supply overhang may impact solana markets.
- FTX-era asset releases since 2022 suggest continued distributions could shape liquidity next.
Alameda Unstakes SOL, Signals Ongoing Creditor Distributions
Alameda Research has transferred roughly $16 million worth of solana ( SOL) tokens after unstaking the assets, in a move that points to continued creditor repayments tied to the collapse of FTX.
Blockchain data tracked by Arkham Intelligence shows the tokens were sent to an address previously associated with distribution efforts. The transaction follows a similar pattern observed in recent months, where unstaked assets were routed to wallets linked to reimbursing creditors.
While there has been no official confirmation that the latest transfer will be distributed immediately, the repetition of this process suggests it forms part of a structured repayment strategy rather than a one-off movement.
Unstaking allows previously locked tokens in proof-of- stake networks to be withdrawn and made liquid. In this case, it enables Alameda to free up assets that can be redirected toward obligations stemming from FTX’s bankruptcy proceedings.
The latest transfer comes about a month after a comparable transaction, when Alameda moved a similar tranche of SOL to the same destination address. That earlier move reinforced expectations that such transfers are tied to ongoing creditor payouts.
Despite the asset sales, Alameda retains a substantial position in solana. The firm still holds approximately 3.5 million SOL, valued at around $294 million, according to Arkham data.
Solana remains one of the largest digital assets by market value, with a capitalization of about $47 billion. The token has traded near $82 in recent sessions, significantly below its peak of $293 reached early last year.
Alameda, founded in 2017 by Sam Bankman-Fried, was once a dominant trading firm in the crypto market. It played a central role in providing liquidity across exchanges and operated extensively in spot and derivatives markets.
Its fortunes shifted dramatically following the collapse of FTX in late 2022, which triggered a wave of insolvencies and legal proceedings. Since then, asset recovery and creditor repayment have been central to the restructuring process.
The steady movement of funds such as SOL highlights the scale and complexity of unwinding Alameda’s positions. Each transfer offers a signal, albeit indirect, of progress in returning value to creditors.
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