Binance Faces Insider Trading Accusations, Freezes Funds Worth $2Million

[rose berry]

Binance, a major cryptocurrency exchange, faces more scrutiny from US regulators amid accusations of operating "illegally." A Twitter user's report claims an anonymous individual profited by front-running Binance listing pumps and insider trading in 16 instances, making about $1.4 million. Binance responded by freezing $2 million associated with the anonymous trader. The allegations of insider trading mainly affect the value of the cryptocurrencies, suppressing their upward volatility and hurting retail traders. Despite facing regulatory issues, Binance remains committed to expanding global cryptocurrency adoption.