Crypto exchange Binance has been a major talking point since the downfall of FTX, both inside and outside of the crypto industry. The company and its founder, Changpeng “CZ” Zhao, have been under a microscope in an attempt to keep the behemoth in line.
On Jan. 10, a tweet surfaced regarding the cryptocurrency exchange’s employee policy to prevent insider trading. It claimed Binance employees of any ranking are not allowed to participate in personal short-term trading and must hold positions for a minimum of 90 days.
Cointelegraph reached out to Binance to confirm its policy and comment on the implications.
A spokesperson from the company replied to Cointelegraph that it has a zero-tolerance policy for using insider information for profit by both employees and relevant family members.
“Every employee is subject to a 90-day hold on any investments they make, and Binance’s leaders are mandated to report any trading activity on a quarterly basis.”
The spokesperson went on to say that the company has an internal process of standing by these conditions, including internal protocols investigated by a security team to hold those accountable who have engaged in such behaviour.
