Crypto News Today (April 22): Bitcoin Pumps to $78K, Memecore’s 99.6% Insider Supply Warning, Justin Sun Sues WLFI
The market rallied after President Trump announced an indefinite extension of the US–Iran ceasefire, reducing immediate geopolitical risk. This was amplified by MicroStrategy’s disclosure of its largest Bitcoin purchase in 17 months – $2.54 billion for 34,164 BTC – which basically signals strong institutional conviction.
Bitcoin is now around $78,000, while Ethereum is above $2,400, pumping 4% today.
Strong day for crypto. Let’s talk about the latest news.
Memecore (M) – A Top Crypto Gainer with Worrying Signs
Memecore (M) is dominating the charts today with a 25% pump on the day and 60% this week. The M price is now around $4.50 at press time, and its market cap is just below $6 billion. But some signs are worrying. One crypto analyst pointed out that Memecore has a fully diluted valuation of $34.5 billion, positioning it as a meme layer‑1 network launched on Binance Alpha.
The token pumped from $0.047 to $4.65, and Grayscale even posted about them. However, ZachXBT has his eyes on M, and on‑chain data suggests insiders control 99.6% of the supply. Memecore responded to ZachXBT, allocating over $100,000 to a post.
Source: CoinMarketCap/Memecore
The project’s CGO is reportedly a Chinese billionaire’s son who bought $19 million worth of Trump tokens and attended a dinner with Trump. Despite being a top‑20 token, the analyst warns that soon it will dump. The extreme supply concentration and insider‑linked activities make M a high‑risk play, even with today’s strong pump.
Read also: Besides RaveDAO, ZachXBT Names 6 Other Crypto Coins to Avoid
Top Crypto News Today (April 22)
Justin Sun Sues World Liberty Financial
Tron’s founder Justin Sun filed a lawsuit in California federal court against World Liberty Financial (WLFI), the Trump‑affiliated crypto project. Sun claims that his WLFI tokens were wrongfully frozen, his voting rights stripped, and he has been threatened with burning his tokens without justification. He says he remains a supporter of President Trump but believes certain project team members are operating against Trump’s values.
Sun also opposes a new governance proposal published April 15, which would lock tokens of holders who do not affirmatively accept its terms – including a two‑year cliff and vesting schedule. Because his tokens are frozen, he cannot vote against it.
Trump Extends Ceasefire Pending Iran Talks
President Trump stated that due to significant fragmentation within the Iranian government, the United States will hold off on its planned attack on Iran to allow time for its leaders to present a unified proposal. The US military has been directed to continue the blockade and remain fully prepared.
Source: @realDonaldTrump
The ceasefire will be extended until such a proposal is submitted and discussions are concluded. This news contributed to today’s risk‑on rally.
KelpDAO Attackers Launder Funds into Bitcoin
According to analyst Specter, a KelpDAO attacker address transferred stolen funds to the Bitcoin network via THORChain, boosting the protocol’s daily transaction volume to roughly $211 million – about 10 times the 30‑day average.
Approximately 442 BTC (around $33 million) are now distributed across multiple addresses, with over 400 addresses used for the transfers. Some funds are mixed with proceeds from previous North Korea‑related attacks.
China’s Historic Silver and Gold Demand
Chinese silver imports rose 78% month‑over‑month to a record 836 tonnes in March, 173% above the 10‑year seasonal average. Year‑to‑date, silver imports reached 1,626 tonnes, the highest on record. Surging demand comes from retail investors buying small silver bars as a lower‑cost alternative to gold, and solar manufacturers front‑loading production ahead of export tax rebate removals.
Meanwhile, Chinese gold imports rose to 162 tonnes in March, the highest since March 2024, marking the third consecutive monthly increase. China’s central bank acquired 5 tonnes of gold in March – the highest monthly addition since February 2025 – bringing total official holdings to a record 2,313 tonnes. China is still stockpiling gold.
Wrap‑Up of Today's Crypto News
Today’s crypto rally was fueled by Trump’s ceasefire extension and MicroStrategy’s massive Bitcoin buy. Memecore pumped hard but carries extreme insider‑control risks. Justin Sun’s lawsuit against WLFI adds legal drama, while KelpDAO laundering and China’s metal demand round out a busy news day.
Markets are optimistic, but caution remains warranted on speculative tokens (don't forget what happened with RaveDAO recently).
Start Here if You're New to Crypto
Frequently Asked Questions
1. Is crypto affected by war?
Yes, war creates geopolitical uncertainty, which often drives capital out of risk assets like crypto and into safe havens like gold and the US dollar. However, a ceasefire or de-escalation (like today's Trump announcement) typically sparks a sharp relief rally in Bitcoin and altcoins.
2. Is Memecore a good investment?
Probably not, on-chain data shows insiders control 99.6% of supply, making it highly susceptible to a sudden dump. The project has no real fundamentals, and extreme concentration poses a significant risk of losing most of your capital.
3. Will Memecore go up?
Short-term pumps are possible due to hype and exchange listings, but the inevitable insider sell-off could crash the price dramatically. Predicting its direction is essentially gambling, not investing.
4. Is China still buying gold and silver?
Yes, China imported 162 tonnes of gold in March (highest since March 2024) and 836 tonnes of silver (+78% month-over-month, a record). The central bank added 5 tonnes of gold in March, marking the 17th consecutive monthly purchase.
Related Articles
XRP trades at $1.43. SuperTrend flips bullish for first time since January. Whales accumulated 360M XRP. Symmetrical tri
RAVE pumped 200% today, but the top 100 addresses still control 94.85% of supply. Two multisig wallets hold 89.04% of to
Bitcoin holds above $75,500 as total crypto market cap rises 2%. Bank lobbying threatens to delay the Clarity Act markup
A markup for the Clarity Act may slip to May as banking lobbyists push back on stablecoin yield rules. If the bill dies