Binance post confirming insider trading sends ‘year of the yellow fruit’ meme token even higher

Binance's internal audit department investigated a report alleging an employee used official Binance social media channels to promote a newly listed token for personal gain, posting promotional material less than a minute after the token launched on-chain. The exchange suspended the suspected employee, contacted relevant authorities, and stated it has zero tolerance for such misconduct, promising to strengthen internal controls. Although Binance did not name the token, it is widely suspected to be the 'year of the yellow fruit' meme token, which launched on BNB Chain. Ironically, after Binance publicly confirmed the insider trading allegations, the token rallied to a fresh high above $0.0061, demonstrating the unpredictable nature of crypto markets driven by social dynamics. Binance also announced it will share a $100,000 reward with five whistleblowers who reported the suspicious activity.

(Source：The Block)