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Binance has rejected allegations that the exchange was involved in a coordinated promotion of new meme coins.
The statements came amid growing concern that the stock market’s social media posts were being turned into memes.
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Binance launches internal review after meme coin reverses its tweets
An example of this trend is a tweet from a Binance Futures post that reads: “Year of yellow fruits and harvest! Sow wisely. Reap abundantly.” An icon appeared on the chain using the same phrase and image shortly before publication.
This timing has fueled suspicions that someone at Binance created or supports the token.
After revealing this, She said The stock exchange said it had launched an internal investigation to determine what happened.
However, Binance co-founder Yi Hee participated Rejecting these allegations as well. He said that Binance has no agreement with KOLs to publish or approve versions of memecoin.
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She noted that the creators of these symbols copy words from Binance posts and turn them into symbols in the hope of benefiting from social momentum.
“Currently, the community engages in community actions that have nothing to do with Binance by issuing coins based on Binance’s official Twitter, my data, or words extracted from posts. But we cannot stop publishing just because someone might try to find angles,” he said. She said.
Consequently, Ye explained The company’s social media team chooses its language independently and has a lot of freedom in how the posts are worded.
However, he insisted that this freedom does not extend to the creation of symbols.
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However, I confirmed that The stock market prohibits employees Issuance or promotion of digital currencies.
Meanwhile, the former CEO expressed For Binance Changpeng Zhao Of the same opinion, he wrote on X that the team continues to publish normally.
He added that any words used in official messages should not be interpreted as an endorsement of any symbol.
“Just because people make meme coins out of the words we use can’t stop us from using them again. We’ll be tweeting like we normally do. Any words in our tweets are not an endorsement of any meme or symbol,” he said. He said.
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The clarification came as Binance remains the largest cryptocurrency exchange in the world in terms of trading volume.
Therefore, any approval perceived by the stock market or its management can move the markets. That is why the company tries to define clearer boundaries between its social media publications and the system Growing meme currencies.
