Book of Meme (BOME): Binance Investigates Insider Trading

Cryptocurrency exchange Binance reported on March 18 that it has launched an investigation into alleged insider trading related to the Solana (SOL)-based meme cryptocurrency Book of Meme (BOME).

Binance’s internal investigation was triggered by a “BOME rat warehouse” incident, which ended up raising questions within the crypto community, as the platform explained in its official statement.

“Announcement of investigation results into information related to “BOME rat warehouse” Recently, we noticed discussions in the community regarding the so-called “BOME rat warehouse” incident on Binance. We take this information very seriously and immediately begin an internal investigation based on relevant leads. Based on the results of our preliminary investigation, the person mentioned in the relevant information has no connection with Binance,” he stated.

Binance also highlighted the reward of US$100,000 to US$5 million for users who have any reports involving coin listings and other types of corruption, or with any member of the Binance team caught in corruption.

“We sincerely appreciate everyone’s continued attention and oversight of Binance. Community suggestions are very important to us, so we promise to continue investigating in depth to ensure transparency and fairness of the facts. If you have any reports involving coin listings and other types of corruption, or if we find Binance team members to be corrupt, we will provide you with a reward of $100,000 to $5 million while keeping your identity confidential.”

📢About “#TREES Announcement of investigation results of information related to “Rat Warehouse”

Recently, we have noticed discussions in the community about the so-called Binance “BOME rat warehouse” incident. We take this information very seriously and immediately launched an internal investigation based on relevant leads. Based on our preliminary investigation results, the person mentioned in the relevant information has no connection with Binance. …

— Binance Chinese｜Web3 wallet is now online (@binancezh) March 18, 2024

It is worth remembering that, in a recent update for cryptocurrency enthusiasts, Binance, one of the largest cryptocurrency trading platforms in the world, announced the listing of the cryptocurrency BOOK OF MEME (BOME), on March 16.

After its listing on Binance, the BOME cryptocurrency increased in value by around 200% in a few hours and reached an ATH close to US$0.029 on Binance. At the time of publication, the BOME price was undergoing a negative correction being quoted at US$0.01374 with a drop of 19.6% in the last 24 hours.

What is BOOK OF MEME Crypto?

The Book of Meme Coin (BOME) is an experimental project that aims to redefine web3 culture by fusing memes, decentralized storage solutions and cryptocurrency trading in an innovative way. This initiative seeks to encapsulate the ever-evolving culture of memes into a digital compendium, the Book of Meme, ensuring that each piece is immortalized on the blockchain.

Utilizing the Solana, Arweave, and IPFS blockchain as primary forms of storage, along with future expansions to Bitcoin inscriptions as forever immutable storage, BOME aims to create a new dimension of decentralized social media and make memes unstoppable.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.