The CEO of Binance crypto exchange clarified that Binance leadership always ensures zero insider trading on the platform to comply with all basic rules and laws of the volatile money market.
Binance is a top-ranked, popular crypto exchange known for its highly responsive and secure crypto trading services for all types of users. The services of this exchange are available globally in almost every country where cryptocurrency trading is legal. This crypto exchange also operates its subsidiaries in some countries. As per reports, Binance is the only crypto exchange with the highest number of regulatory approvals to provide crypto services.
On 21 Nov 2024, many media reports noted that the trading volume on the Binance platform surpassed major global stock markets: 10% higher than NASDAQ, 2x the New York Stock Exchange (NYSE), and accounting for 50% of all CEX trading volumes. This sudden increase in volume was observed between October 7th and November 15th, 2024.
Data shows that in the last 30 trading days (October 7th to November 15th, 2024), Binance's total trading volumes (spot + derivatives) have significantly outpaced major global stock markets: 10% higher than NASDAQ, 2x of the New York Stock Exchange (NYSE) and accounts for 50% of… pic.twitter.com/QqwMS6o1k4
— Wu Blockchain (@WuBlockchain) November 21, 2024
Following this sudden increase in trading volume, many critics claimed it was due to insider trading on the platform.
Addressing these concerns, Binance’s new CEO, Richard Teng, stated that Binance ensures a zero-tolerance policy for insider trading and that all such claims against Binance are false. He also encouraged users to report any suspicious trading behaviour to the Binance team.
During the AMA earlier, I addressed the false claims of insider trading at Binance. To be clear, these are FUD. I’d like to reiterate this again here for those who missed it. At #Binance, we have a zero-tolerance policy for insider trading. Our Internal Audit team closely…
— Richard Teng (@_RichardTeng) November 21, 2024
Binance WhatsApp Channel
On 21 Nov 2024, Binance launched its WhatsApp channel to connect more closely with its customers.
In countries like India, people prefer WhatsApp Messenger over other platforms due to its popularity and widespread use. This decision by Binance to launch a WhatsApp channel is seen as a strategic move to maintain better communication with customers.
We are pleased to introduce the official #Binance WhatsApp channel! Stay informed with trusted news, alerts, and updates directly from us. Remember, Binance will never add you to groups or ask for your account details via messages.To join 👉 https://t.co/7u9VPFYT9X
— Richard Teng (@_RichardTeng) November 21, 2024
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