Binance denies insider trading concerns, BOME whales bought before listing

Binance has denied any involvement in the massive listing of Book of Meme (BOME) amid allegations of insider trading on social media.
The world's largest cryptocurrency exchange said it immediately launched an internal investigation after receiving information about the transaction.
“Investigation results indicate that the user is not a Binance employee,” it said in a March 18 X post. “We are currently offering rewards between $100,000 and $5 million to any user who reports listing-related or other fraudulent activity.”
Large BOME purchases draw attention from On-Chain tracking platform
Binance’s response came after Lookonchain stated in an X article on March 15 that a wallet withdrew 12,721 Solana (SOL) from the exchange, worth about $2.3 million. Subsequently, the same wallet purchased 314 million BOME at a price of $0.0074.
This made Lookonchain wonder if this investor knew something that the rest of the market didn’t.
A new wallet withdrew 12,721 SOL ($2.3 million) from Binance in the last 30 minutes and bought 314 million BOME at $0.0074. Does he know something we don’t?
Binance listed the Solana-based new meme coin on March 16, causing the token to rise by more than 15,00% on the exchange.
BOME’s price has since adjusted and has lost 29% in the past 24 hours to trade at $0.01322 at 5:45 a.m. ET. Despite the pullback, the meme coin is still up 13,57% from when it started trading.
Crypto community expresses concerns about Binance’s listing strategy
Binance’s response caused an uproar in the X community. Some members of the cryptocurrency community still believe that someone at the exchange may have been involved in the huge transaction.
Many X users questioned why the leading cryptocurrency exchange only lists projects for a few days, while “real valuable” cryptocurrencies have to “beg” Binance to pay attention to them.
Just so quickly listed the "random" and "anonymous" coin listed on Binance two days ago.
@GaryGensler
and
@SECGov
An interesting question for the , no build requirement is dangerous! This move has a negative impact on cryptocurrencies and will definitely be a good addition to the trial…
Others in the crypto space have attempted to capitalize on BOME’s momentum by launching a new meme coin called Wife of Bome (WOME). The cryptocurrency has gained more than 7,28% since its launch.
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