Blockchain investigator ZachXBT announced Monday that a "major investigation" will drop Feb. 26 into one of cryptocurrency's most profitable businesses, alleging multiple employees abused internal data to insider trade over a prolonged period.
He did not name the company. No evidence has yet been made public.
The post, accompanied by an image of an anonymous penguin silhouette against a black background captioned "There was crime everywhere," prompted immediate speculation across social media and prediction markets.
What Happened
Within hours of ZachXBT's post, traders piled into a Polymarket market asking which company would be named, pushing total volume past $2.2 million.
As of Monday evening, Meteora led the odds, followed by MEXC, Pump.fun (PUMP), and World Liberty Financial (WLFI).
Binance, Coinbase, Tether (USDT), Circle (USDC), Kraken, and several DeFi protocols also attracted bets. No company has been confirmed as the subject, and Polymarket odds reflect trader sentiment, not investigative findings.
ZachXBT described the target only as ranking among the most profitable businesses in the industry. A 2025 ranking of the seven most profitable cryptocurrency firms included Tether, Binance, Coinbase, Circle, and Kraken, according to industry estimates.
Why It Matters
ZachXBT has built a track record of on-chain investigations that have led to verifiable outcomes - prior reports have exposed hacks, scams, and wallet-level fraud with documented blockchain evidence.
His announcement cadence, in which he telegraphs findings before releasing full documentation, has preceded significant market reactions in past cases.
Insider trading at major cryptocurrency platforms occupies a gray legal area in the U.S., where most digital assets still lack the explicit securities classification that triggers formal SEC enforcement. That regulatory ambiguity makes independent on-chain investigations a primary accountability mechanism for much of the sector.
Until ZachXBT publishes his full report on Feb. 26, no company can be credibly identified as the subject. The Polymarket market reflects speculation driven by community priors, narrative momentum, and trader positioning - not confirmed investigative findings.
Any reporting or social media analysis naming specific firms as likely targets ahead of that date is, at this stage, unverified.
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