RAVE Plunged Today, Binance CEO Issues Statement
As allegations of manipulation surrounding the controversial RaveDAO ($RAVE) token in the cryptocurrency market intensify, a noteworthy statement has come from Binance, one of the sector’s largest exchanges.
Binance Co-CEO Richard Teng announced that allegations of insider trading on the $RAVE token are being taken seriously. Teng stated that the exchange has launched an investigation into the matter, adding, “We will always do our part to investigate all market abuses.”
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The statement comes after recent sharp price movements in the $RAVE token and allegations of a “pump and dump” scheme. Market participants point out that high supply controls and sudden price fluctuations pose risks for individual investors.
$RAVE, an altcoin that has been the subject of much discussion lately due to its sharp fluctuations, lost 60% of its value today. However, it is still trading at a level 255% higher than it was 255% earlier in the last week.
*This is not investment advice.
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