Crypto exchange Binance has investigated allegations of insider trading concerning the listing of Solana meme coin Book Of Meme (BOME).
Binance Investigates Insider Trading Claims
On March 14th, Pepe Meme artist Darkfarms introduced the Solana meme coin BOME. He initiated the token’s presale by sharing a Solana address on Twitter, where raised SOL funds were utilized to add liquidity.
Within three days, BOME skyrocketed from zero to a peak market value of over $2 billion (currently valued at $700 million) and secured a listing on the Binance exchange.
However, before the listing of the meme coin, a whale – a person or entity that holds a large amount of crypto – purchased 314 million BOME tokens for $2.3 million on the Raydium decentralized exchange (DEX) on March 15, at an average price of $0.0074 per token.
After the listing, the token’s value skyrocketed to $0.026, making the purchased tokens worth approximately $5 million. This suspicious transaction tr
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