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In light of recent events surrounding a substantial purchase of 314 million BOME tokens prior to their listing on Binance, discussions within the crypto community have ignited concerns of possible insider trading. Crypto exchange giant Binance has taken a proactive stance, unveiling a reward program ranging from $100,000 to $5 million for individuals who come forward with credible reports of potential insider trading or fraudulent activities within the exchange.

 

 

 

The announcement came on March 16, coinciding with Binance’s decision to list Book of Meme (BOME), a Solana-based meme coin. BOME was introduced with trading pairs including Bitcoin (BTC), Tether (USDT), First Digital USD (FDUSD), and the Turkish lira. Additionally, Binance Futures revealed plans to list a USDS-M BOME perpetual contract offering up to 50x leverage.

 

 

 

Prior to the listing on Binance, a notable investor acquired 314 million BOME tokens for $2.3 million via the Raydium decentralized exchange (DEX), averaging a purchase price of $0.0074 per token. Post-listing, the token’s value surged to a peak of $0.026, translating to an estimated value of $8 million.Following this transaction, suspicions arose within the community, prompting discussions regarding potential insider trading. Some members of the community speculated on platforms like Reddit, questioning whether the purchase was a result of insider information or merely a stroke of luck. Concerns were raised regarding the possibility of the trader having insider connections within Binance itself.

 

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