The CEO of Binance, a renowned crypto exchange, has made it clear that the leadership at Binance always ensures zero insider trading on their platform to comply with all the basic rules and laws of the volatile money market.
Binance is a top-ranked and 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. Additionally, Binance operates subsidiaries in some countries and has the highest number of regulatory approvals to provide crypto services.
Recent reports have highlighted the significant increase in trading volume on the Binance platform, surpassing major global stock markets. Between October 7th and November 15th, 2024, the trading volume on Binance was noted to be 10% higher than NASDAQ, twice that of the New York Stock Exchange (NYSE), and accounting for 50% of all CEX trading volumes.
However, following this surge in trading volume, there were speculations and criticisms of insider trading on the platform. In response to these concerns, Binance’s CEO, Richard Teng, reiterated the exchange’s zero-tolerance policy for insider trading and dismissed all claims as false. He encouraged users to report any suspicious trading behavior to the Binance team.
To further enhance communication with its customers, Binance launched its WhatsApp channel on November 21, 2024. This move is seen as a strategic decision to connect more closely with users, especially in countries like India where WhatsApp Messenger is widely popular. The WhatsApp channel will provide customers with trusted news, alerts, and updates directly from Binance.
In conclusion, Binance continues to uphold its commitment to transparency and compliance with regulations in the cryptocurrency market. The launch of the WhatsApp channel and the CEO’s clarification on insider trading allegations reaffirm Binance’s dedication to maintaining a secure and trustworthy trading environment for its users.