This pattern has prompted Leonidas, co-founder of a popular Bitcoin Ordinals explorer, to launch a petition demanding more transparency and stricter criteria for meme coin listings. Leonidas claims Binance’s current approach amplifies market volatility, disproportionately impacting retail investors.

Binance Faces Scrutiny Over Meme Coin Listings As $PNUT and $ACT Surge 300%

✨ Binance’s listing of Solana-based meme coins with low market cap sparks pump-and-dump claims.

✨ Over 80% of the meme coin projects listed by Binance in 2024 saw a major price surge after the listing.

✨ Critics argue the exchange is intentionally favoring insiders, while harming retail investors.

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