Binance Defends Staff From Allegations Of Insider Trading Related To BOME

JAKARTA - Binance, recently faced problems related to insider trading allegations involving the Book of Meme (BOME), a meme coin operating on the Solana blockchain. These allegations come after an incident known as the "BOME rat nest," sparked intense discussions in the crypto community.

Responding to the allegations, Binance issued an official statement by emphasizing that no Binance personnel were involved in the activity. The exchange is also committed to maintaining transparency and justice in the crypto market, as well as ensuring the integrity of trading activities remains a top priority.

According to a CryptoPotato report, as a proactive move, Binance has announced prizes ranging from 100.000 to 5 million US dollars (approximately IDR 1.57 billion to IDR 78.68 billion) for information that can help uncover cases of insider trading or other forms of corruption within Binance.

This step was taken after Binance decided to include BOME, with spot trading pairs such as BOME/BTC, BOME/USDT, BOME/FDUSD, and BOME/TRY, as well as a regular BOME contract on the Futures platform with a leverage option of up to 50 times.

On March 16, the value of BOME jumped 34%, reaching 0.02703 US dollars (around Rp425), while trading volume increased by 262% to US$3.8 billion (around Rp59.7 trillion). This spike places BOME as one of the most traded crypto coins, ranking ninth.

This "ratrang" controversy refers to suspicions of insider trading or leaked information on the Binance platform, particularly those related to the inclusion of new tokens.

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