Some traders put in well timed sell orders of about 125,000 BNB, worth $37 million, right before the June 5 announcement that the SEC was suing Binance. reports.
dropped more than 9% from $300 to $272 in the hour following SEC’s crackdown against Binance on Monday.
Crypto traders who bet that the price of Binance’s BNB token would decrease before June 5 at 11:15 am, have profited heavily from the price action of BNB following the reveal of SEC’s lawsuit against the largest crypto exchange by trading volume. An SEC spokesperson did not return a request for comment on the trades made before the SEC lawsuits against the crypto exchange.
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