Binance suspended an employee after an official account post promoted 'year of yellow fruit' token, which spiked over 900% before a sharp market cap retracement.
Binance announced at 19:05 the suspension of an employee who used its official account to promote the meme token 'year of yellow fruit'. The token’s price surged over 900% to $0.006, with its market capitalization peaking at $6 million before dropping to $5.33 million. Disciplinary action is pending, and the promotion occurred before notable price volatility.