Binance dismisses $Bome insider trading claims, but further investigation will continue
Finally, the Binance team has completed its initial investigation into the $Bome token insider trading incident.
The $Bome token is a newly launched Solalan network-based token from an unknown cryptocurrency enthusiast known for his meme art collectibles. The token, which was launched just a few days ago, has garnered a market capitalization of over $1 billion following listing support from several cryptocurrency exchanges.
After hearing the news that this token was listed on the Binance cryptocurrency exchange, many people noted that there were people with advance knowledge of this token, potentially internal traders of this token.
Following this controversy, the Binance team conducted an investigation and found that the man in question was not a Binance team/employee.
The Binance team confirmed that they will be looking deeper into the matter to find the culprit, if any. It also asked people to report or notify the Binance team if they have any clues or evidence related to the listing of cryptocurrency tokens on the exchange.
The trading price of Bome token has dropped significantly over the past 48 hours, but it is still trending in the list of top cryptocurrency tokens. Now that the creator of this token has shown his vision to push this meme token to Web3 and decentralized storage solution tools, it will be interesting to see the future growth of this token.
The current trading price of this token is $0.015, which is down 21% in the last 24 hours.
Most cryptocurrency influencers these days are talking about meme tokens and many of them are promoting various meme tokens. Perhaps they sponsored those meme tokens for money.
Read more: Many people are losing huge amounts of money due to Solana meme cryptocurrency token.