Today, Arkham drew attention to an interesting movement and triggered concerns about a new insider trading case. Due to the listing rules of cryptocurrency protocols, they cannot disclose this before the Binance exchange. They also cannot allow others to profit from it. Let’s remember why posts like “Binance will list this altcoin soon” are lies on this subject.
Crypto Investor Multiplies His Money by 100 Times
Before the listing, before the lock-up postponement decisions, and before many other big news events, someone acts like they are getting news from the future. They fill their wallets and sell when news that increases the price comes. Sometimes these wallets attract attention and cause protocols and exchanges to be criticized.
A trader whose wallet address starts with 0x6ac Neiro He did this for. The post made by the official Arkham account today reads:
“This trader turned $16.5k into $1.8m on Neiro. Trader 0x6ac made 5 ETH “He bought Neiro in return. Today, after Binance announced its listing, his earnings reached a record level. He had been holding it for 8 weeks and gained over 100 times.”
Binance Listing Requirements
Binance if this purchase happened before the listing agreement, it will review the process. This is one of the strictest rules of Binance exchange regarding listings and includes sanctions up to and including cancellation of the listing for things like insider trading and its spread. If you recall from the past statements of Binance’s former CEO, he said things that confirmed this.
- Only Binance can announce listings.
- If the listing announcements made before the Binance exchange are real, the process may be canceled.
- Communities that pressure for listing on social media may be blacklisted.
- Listing pressure on social media may even result in the cancellation of a listing for the relevant altcoin.
If you pay attention to the last item, etc. altcoin You will understand that people who claim to have inside information saying that Binance will list it are either lying or announcing a listing that will be canceled.
Shiba Lucy, the manager, said in today’s statement that they do not pressure major exchanges to “list” their tokens and that listings are more about financial deals. This is not something that major exchanges hide, they know that they receive a certain portion of the tokens or equivalent cash.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
