“Is this the new business strategy of Binance in the post-CZ era? Buy low-cap memecoins like NEIRO ($15 million) and ACT ($20 million), list them to multiply by 50, and sell them to their own users. People deserve to know what is happening inside the largest crypto institution,”
More than 80% of the memecoins listed by the exchange in 2024 experienced significant price spikes after listing, followed by sharp corrections. Critics argue that such fluctuations resemble pump-and-dump schemes, harming retail investors. In addition to these controversies, Binance faces legal challenges over the memecoin PNUT.
Mark Longo, the owner of the internet sensation Peanut the Squirrel, has filed a lawsuit against Binance. He alleges that the exchange used Peanut's image and intellectual property without authorization. As Binance continues to expand its token offerings, questions about the sustainability and fairness of its listing practices persist.