The recently launched Solana-based meme token, Book of Meme (BOME), may cause trouble for Binance employees due to potential insider trading with BOME. Looking forward to this incident, today, on March 18, 2024, the world’s biggest cryptocurrency exchange posted on X (previously Twitter) that they had initiated an internal investigation based on relevant leads while mentioning that these matters are serious. Is Binance member involved in BOME insider trading?&nbsp; 
This incident occurred just after community members were discussing Binance’s potential insider trading with BOME. However, Binance also stated that based on our preliminary investigation, the person mentioned in connection with this insider trading has no association with Binance. 
As no members of Binance are involved in this incident, Binance expresses gratitude and appreciation to everyone for their attention and supervision of Binance. Additionally, Binance promises to continue investigating in depth to ensure the transparency and fairness of the facts. 
Binance further adds that if someone has any reports involving currency listing and other forms of corruption, or if Binance finds any of its members involved in any incidents of corruption, the individual providing the report will be rewarded with $100,000 to $5 million. To maintain a fair and transparent trading environment, Binance came up with this initiative to prevent any behaviors that may cause or affect the market. 
One of the major reasons behind the speculation is the listing of the Solana-based Book of Meme (BOME) token on March 17, 2024. The BOME token was launched on March 12, 2024, and just a few days later, it got listed on Binance, which typically doesn’t happen. Moreover, crypto enthusiasts also commented that Binance listed 3-day-old tokens but not other high market-cap cryptocurrencies. BOME token price-performance analysis 
However, this Solana-based meme token has gained massive popularity in the realm of cryptocurrency due to its performance and the attention of investors. Since its launch, the price of this token has soared more than 1,600%, and it has also been listed on major cryptocurrency exchanges like Binance, KuCoin, ByBit, and others. Currently, BOME is trading near $0.015, and in the last 24 hours, it experienced a price drop of over 22%. 
Meanwhile, traders and investors who bought the <a href="https://news.todayq.com/trader-bags-4-3-mln-profit-as-bome-token-launches-on-dex/">BOME token</a> during the presale have made huge profits. Recently, on March 16, 2024, a trader during the presale spent 3,505 SOL and bought 532.45 million BOME tokens. As the token was listed, this trader sold his BOME holdings after 10 hours of its listing and made a profit of around $4.95 million.

Insider trading in BOME? Binance shoots investigation

Todayq News

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