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All Posts Term: Insider Trading
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Market NewsTechnology

Binance Takes Measures To Stop Insider Trading By Employees

Binance

Wall Street might have an ambivalent opinion of cryptocurrency, however people who trade in cryptos are taking inspiration from history.

Binance, the biggest crypto exchange in the world by trade volume, has introduced employee trading restrictions that its' boss says he copied from large investment banks.

"We permit our staff to own cryptos, because we think they will have a higher value than fiat currency in future" said Changpeng Zhao, Binance CEO, in a Yahoo Finance interview. "However, everyone has to be cleared if they wish to trade cryptocurrencies, and they must wait a minimum of thirty days before making any further trades". According to Zhao, these trading restrictions help staff earn more cash, because it requires them to hold for longer, even when volatility is high in the short term. "I never liked day trading" he said.

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