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<p>Binance denied any involvement in a large pre-listing transaction for Book of Meme (BOME) amid insider trading allegations on social media.</p> 
<p><span style="font-weight: 400;">The world’s largest crypto exchange said that it “immediately” initiated an internal investigation after it received information about the transaction. </span></p> 
<p><span style="font-weight: 400;">“The results showed that the user is not a member of Binance staff,” it said in a Mar. 18 </span><a href="https://twitter.com/BinanceHelpDesk/status/1769633444114714951"><span style="font-weight: 400;">post</span></a> on X. ”We’re currently offering a reward of 100,000 USD ~ 5 million USD to any users that report fact-listing-related or other fraudulent behaviour.”</p> 
<h2 id="span-style-font-weight-400-large-bome-purchase-flagged-by-on-chain-tracking-platform-span"><span style="font-weight: 400;">Large BOME Purchase Flagged By On-Chain Tracking Platform</span></h2> 
<p><a href="https://insidebitcoins.com/news/xrp-price-prediction-xrp-soars-15-on-large-binance-transfers-but-traders-turn-to-this-new-meme-coin-that-pumped-65-in-a-week"><span style="font-weight: 400;">Binance’s</span></a><span style="font-weight: 400;"> response comes after Lookonchain said in a Mar. 15 X post that a wallet withdrew 12,721 Solana (SOL), worth approximately $2.3 million, from the exchange. Shortly thereafter, the same wallet </span><a href="https://solscan.io/account/Haee7H5bKDCnm6dXLkeR9DcWw9Puhnkwk71QBUSHcpUt#solTransfers"><span style="font-weight: 400;">bought 314 million BOME</span></a><span style="font-weight: 400;"> at $0.0074. </span></p> 
<p><span style="font-weight: 400;">This caused Lookonchain to question whether the investor knew something that the rest of the market did not.</span></p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">A fresh wallet withdrew 12,721 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($2.3M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> and bought 314M <a href="https://twitter.com/search?q=%24BOME&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BOME</a> at $0.0074 in the past 30 mins.</p> 
 <p>Does He know something we don't?🤔<a href="https://t.co/cDrm9SOtOB">https://t.co/cDrm9SOtOB</a> <a href="https://t.co/g6GbCbZb1L">pic.twitter.com/g6GbCbZb1L</a></p> 
 <p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1768655464869544383?ref_src=twsrc%5Etfw">March 15, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p><a href="https://insidebitcoins.com/news/dogwifhat-wif-gets-listed-on-binance-sei-sei-takes-a-breather-after-significant-surge-inqubeta-qube-makes-investors-favorite-lists"><span style="font-weight: 400;">Binance</span></a><span style="font-weight: 400;"> listed the new Solana-based meme coin on Mar. 16, which led to the altcoin’s value skyrocketing more than 1,500% on the exchange. </span></p> 
<p><span style="font-weight: 400;">BOME’s price has since </span><a href="https://coinmarketcap.com/currencies/book-of-meme/"><span style="font-weight: 400;">corrected</span></a><span style="font-weight: 400;">, and suffered a 29% drop over the last 24 hours to trade at $0.01322 as of 5:45 a.m. EST. Despite this pullback, the meme coin is still up a stratospheric 1,357% since it started trading.</span></p> 
<h2 id="span-style-font-weight-400-crypto-community-concerned-about-binance-s-listing-strategy-span"><span style="font-weight: 400;">Crypto Community Concerned About Binance’s Listing Strategy</span></h2> 
<p><span style="font-weight: 400;">The reply by Binance caused quite a stir on X. Some members in the crypto community still </span><a href="https://twitter.com/RahulMa83408466"><span style="font-weight: 400;">believe</span></a><span style="font-weight: 400;"> that someone at the exchange may have had something to do with the whopping transaction.</span></p> 
<p><span style="font-weight: 400;">Many X users questioned why the leading crypto exchange is listing projects that are only a few days old, while cryptos with “real value” have to “beg” for Binance to notice them.</span></p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Simply such fast listing "random" and "anonymous " 2 days old coin duper fast listing on Binance is matter of interest for <a href="https://twitter.com/GaryGensler?ref_src=twsrc%5Etfw">@GaryGensler</a> and <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a> <br>0 (Zero) build requirements is dangerous! This action had negative impact on cryptocurrency surly will be Nice addition to trial… <a href="https://t.co/V9uqeV3ADn">pic.twitter.com/V9uqeV3ADn</a></p> 
 <p>— Errands Gotham (@Fitny4) <a href="https://twitter.com/Fitny4/status/1769638618706931837?ref_src=twsrc%5Etfw">March 18, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p><span style="font-weight: 400;">Others in the crypto space looked to capitalize on BOME’s momentum by launching a new meme coin with the name Wife of Bome (WOME). Since being launched, the crypto has </span><a href="https://www.coinscan.com/tokens/eth/0x31d712e5ecafaf4c3e7e2b68937cc20aa0c2299b"><span style="font-weight: 400;">surged</span></a><span style="font-weight: 400;"> over 728%.&nbsp;</span></p> 
<h3 id="span-style-font-weight-400-related-articles-span"><span style="font-weight: 400;">Related Articles:</span></h3> 
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Binance Denies Insider Trading Suspicions After BOME Whale Purchase Before Listing

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Inside Bitcoins

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