A Binance employee has been suspended after secretly helping launch a BNB Chain meme coin—then using the official Binance Futures X account to promote it seconds after launch. The token briefly hit a $6M market cap, prompting an internal audit, whistleblower payouts, and potential legal action as Binance enforces its zero-tolerance policy on abuse of authority.

"The investigation scrutinized the launch of the “Year of the Yellow Fruit” meme coin that was created on the BNB Chain token launchpad, Four.Meme. According to the firm, immediately after the token launch, the Binance Futures account posted a now-deleted image closely resembling the token’s text and imagery."

Top comment by @Spencer420

More coverage

• Binance Suspends Employee in Insider Trading Scandal Involving ... (quasa.io)
• Binance suspends an employee suspected of profiting from insider ... (binance.com)
• Binance suspends employee who used official X account to pump ... (dlnews.com)
• Binance fires staff over insider information for 'personal gain' (thestreet.com)
• Binance suspends team member who used BNB Chain info to front ... (protos.com)

Explore the topic

• Futures
• Audit
• Memes
• Market Cap