Skeptic's lens: Binance's cautionary tale of insider trading

In yet another episode of crypto controversy (who’s counting anymore?), Binance was accused of leaking information about Celer Network’s token sale on Binance Launchpad. The screenshots from a private WeChat group circulated more than a week ago hinting that Celer Network would soon be listed. Yesterday, Binance announced that Celer would be the third project this year to have a token sale on Binance Launchpad.

Dovey Wan, a Founding Partner of Primitive Ventures and ex-Managing Director at DHVC, was dragged into it as well. She was accused of confirming that Binance would list Celer and of potentially participating in insider trading. Celer raised $30.7 million from private and seed token sales in 2018 for 27 percent of the total supply. As a result, it was possible to insider trade the token in over-the-counter (OTC) markets.