A crypto whale bought 314 million BOME tokens ahead of its Binance listing, sparking insider trading discussions among community members.
Crypto exchange Binance has announced that it will offer a $100,000 to $5 million reward for those who provide them with reports on potential insider trading or corruption within the exchange.
On March 16, Binance announced it would list the Solana-based memecoin Book of Meme (BOME). The token was paired with Bitcoin (BTC), Tether (USDT), First Digital USD (FDUSD) and the Turkish lira. In addition, Binance Futures said it will also list a USDS-M BOME perpetual contract with up to 50x leverage.
Ahead of the Binance listing, a crypto whale bought 314 million BOME tokens for $2.3 million on the Raydium decentralized exchange (DEX) at an average price of $0.0074. After the listing, the value of the tokens pumped to a high of $0.026, making the tokens worth around $8 million.
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Source: https://cointelegraph.com/news/binance-insider-trading-reward