Veteran Trader Calls Binance 'Global Scam' As Crypto Exchange Allegedly Sells Off Bitcoin To Stay Afloat: 'Watch It All Unravel'
Portfolio Pulse from Benzinga Neuro
Veteran trader Peter Brandt has accused Binance and its native token, Binance Coin (BNB), of being a global scam. He suggests that Binance's CEO, Changpeng Zhao, is selling off Bitcoin (BTC) to maintain the value of BNB. This comes amidst increasing scrutiny on Binance, with concerns over its operations and the declining price of BNB. The crypto community is on edge, with fears of potential repercussions for Binance and its users.
August 23, 2023 | 6:57 am
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NEGATIVE IMPACT
Binance Coin (BNB) is under scrutiny following accusations of being a scam and concerns over its declining value.
The accusations of Binance and BNB being a scam, along with the suggestion that Bitcoin is being sold off to maintain BNB's value, could negatively impact the price of BNB in the short term.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Bitcoin (BTC) is allegedly being sold off by Binance's CEO to maintain the value of BNB.
If the allegations of Bitcoin being sold off to maintain the value of BNB are true, this could lead to an increase in supply and a potential decrease in the price of Bitcoin in the short term.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 80