Binance and Bitget to probe a rally in RaveDAO's RAVE token, which surged 4,500% in a week, after ZachXBT alleged RAVE insiders engineered a large short squeeze (Francisco Rodrigues/CoinDesk)

Francisco Rodrigues / CoinDesk: Binance and Bitget to probe a rally in RaveDAO's RAVE token, which surged 4,500% in a week, after ZachXBT alleged RAVE insiders engineered a large short squeeze — Nearly 90% of RAVE's supply was concentrated in just three wallets, and millions of tokens were transferred to exchanges before the price surge.