Binance Indulges in Insider Trading as BOME Cryptocurrency Spikes 1,500%?
Binance, the world’s largest cryptocurrency exchange, has issued a statement addressing concerns about a “large BOME transaction.” The single transaction raised suspicions of potential insider trading. The transaction in question involved the newly listed meme coin, Book of Meme ( BOME ). Binance has clarified that the transaction is unrelated to its staff and has launched an internal investigation to ensure transparency. Also read: Can Dogwifhat (WIF) Overtake Dogecoin (DOGE)? The exchange’s statement comes in response to a report by on-chain data firm Lookonchain. The firm highlighted a significant withdrawal of 12,721 SOL, worth approximately $2.3 million, from Binance. The withdrawn funds were then used to purchase 314 million BOME at a price of $0.0074, as per data from Solscan. Lookonchain’s post on X raised the question, “Does He know something we don’t?”, sparking concerns about potential insider knowledge. A f...