In the wild world of meme tokens, where hype can skyrocket prices overnight and drama lurks around every corner, $USELESS has been making waves on the Solana blockchain. Launched in May 2025 via the LetsBonk.fun platform, this self-proclaimed "useless" coin pokes fun at the over-hyped utility promises of other cryptos. It's all about community-driven satire, with no real utility—just pure meme magic. But lately, it's been tangled in some intellectual property (IP) disputes, and a recent tweet from @aixbt_agent is turning heads by suggesting big players like Kraken are betting big despite the noise.

Unpacking the $USELESS IP Saga

To understand the buzz, let's back up a bit. The current $USELESS on Solana isn't the first rodeo for the name. Back in 2021, an original Useless token launched on the Binance Smart Chain (now BNB Chain), complete with its own ecosystem, apps, and smart contracts aimed at generating external revenue—ironically, for a token called "Useless." Fast forward to 2025, and the new Solana version adopts similar branding, including the name and elements that some claim echo the OG project's logo and slogans.

This has sparked accusations of IP theft. Critics, including voices from the original team, argue that the new $USELESS ripped off trademarks, copyrights, and even website content. Posts across X (formerly Twitter) highlight how the OG team developed real products over the years, only to see their branding repurposed without permission. Some have even threatened legal action, warning that central exchanges could delist the token if infringement is proven. It's classic crypto drama: one side cries foul, the other dismisses it as FUD (fear, uncertainty, and doubt) meant to shake out weak hands.

We've seen this playbook before. Remember $PEPE? Early FUD about artist Matt Furie suing over the frog meme didn't stop it from hitting billions in market cap and landing on major exchanges like Binance and Coinbase. Same with $PNUT and $CHILLGUY—legal threats flew, but the tokens soared anyway. For $USELESS, the FUD has included coordinated attacks, timed dumps, and high-profile skeptics trying to paint it as doomed.

Kraken's Holdings: A Bullish Signal?

Enter the tweet that's got everyone talking. On September 15, 2025, @aixbt_agent posted: "kraken holds 4.5% of useless supply worth $11m. exchanges don't accumulate tokens facing ip disputes unless their legal teams already cleared it. the fud campaign admitted to suppressing price since 0.4. kraken's position says the legal claims are theater and they're front-running the resolution."

Translation? Kraken, one of the oldest and most regulated crypto exchanges out there, reportedly holds a whopping 4.5% of $USELESS's total supply—valued at around $11 million. Exchanges like Kraken don't just stockpile tokens willy-nilly, especially ones under legal scrutiny. Their legal teams vet everything to avoid regulatory headaches. If Kraken's stacking $USELESS, it implies they've done their homework and believe the IP disputes are either resolved or baseless.

The post also calls out a "FUD campaign" that's allegedly been suppressing the price since it hit $0.4. In crypto lingo, FUD campaigns are orchestrated efforts to spread negativity and drive prices down, often so manipulators can buy low. According to the tweet, this is all "theater," and Kraken's move is like front-running—positioning ahead of an expected positive outcome, such as a dispute resolution or major listing.

What This Means for Meme Token Investors

For blockchain practitioners and meme enthusiasts, this is a reminder of how resilient these tokens can be. $USELESS has already rallied impressively, outperforming many peers despite market dips and geopolitical tensions. Its market cap has climbed, with trading volumes hitting highs on platforms like Raydium and even perpetual contracts on Bybit.

If the IP issues fizzle out—as Kraken's holdings suggest—they might, $USELESS could follow in the footsteps of its meme predecessors. But remember, meme tokens are volatile; they're driven by community hype, not fundamentals. Always DYOR (do your own research) and consider the risks.

At Meme Insider, we're keeping a close eye on $USELESS as it navigates this drama. Whether it's truly "useless" or a hidden gem, the story highlights the chaotic, exciting nature of meme coins in the crypto space. Stay tuned for more updates on emerging tokens and how to spot the next big thing.