Binance is facing scrutiny following the surprise listing of two Solana-based meme coins that were launched just weeks ago. Critics have accused Binance of enabling pump-and-dump schemes that unfairly benefit select traders at the expense of retail investors.

The exchange announced the listing of The AI Prophecy (ACT) and Peanut the Squirrel (PNUT) on November 11, which had a relatively low market cap and trading volume. 

Binance Listing Pumped PNUT to Over 300% Today

Following Binance’s listing, both meme coins nearly tripled their market cap in less than 24 hours. ACT saw an unprecedented surge of over 1,000% in value, pushing its market cap beyond $400 million shortly after the listing. 

Similarly, PNUT, a token inspired by the popular Peanut the Squirrel, experienced a 300% price increase. Following this, an alleged Binance insider posted that the exchange took a significant fee from the meme coin for its listing. 

The tweet has since been deleted, but it sparked significant scrutiny from the community. Despite these allegations, Binance co-founder Yi He mentioned that the exchange took zero listing fees for both these tokens. 

At the same time, an on-chain analyst posted on X (formerly Twitter) that 12 out of 15 meme coins listed by Binance this year recorded significant value jumps post-listing. Examples include Moo Deng (MOODENG), Dogwifhat (WIF), and Popcat (POPCAT). Each of these tokens witnessed price gains exceeding 2

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Author: Mohammad Shahid