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    Home»News»Binance Employees To Adhere To 90-day Period Before Trading
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    Binance Employees To Adhere To 90-day Period Before Trading

    Rea K.By Rea K.January 10, 20232 Mins Read
    Binance Employees To Adhere To 90-day Period Before Trading
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    Since the collapse of FTX, the cryptocurrency industry as a whole and outside of it has been talking a lot about the crypto exchange Binance. In an effort to control Changpeng “CZ” Zhao, the company’s creator has been closely scrutinized.

    The cryptocurrency exchange’s staff policy to prevent insider trading was discussed in a tweet that appeared on January 10. It stated that all workers of Binance are required to maintain holdings for a minimum of 90 days and are prohibited from engaging in personal short-term trading.

    He Yi, the co-founder of Binance, said that no employee of Binance, regardless of level, is allowed to conduct personal short-term cryptocurrency transactions, and must hold the position for more than 90 days before trading.

    — Wu Blockchain (@WuBlockchain) January 10, 2023

    According to a spokeswoman for the company, the firm has a zero-tolerance policy for workers and relevant family members exploiting insider knowledge for financial gain.

    “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 representative continued by stating that the organization has internal procedures for upholding these terms, including internal protocols that are looked into by a security team to hold anyone responsible for engaging in such activity.

    Is that how financial freedom work? 😂

    — Cryptonian (@Bitbitgo2) January 10, 2023

    It was previously stated that, as opposed to the prolonged 90-day timeframe now in effect, Binance’s insider trading prevention policy featured a 30-day period. On the modification, the corporation made no comments.

    Some community members commented on the tweet by asking how such a practice could be effectively applied, while many others thought the approach was logical.

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