Trader Legend Peter Brandt Exposes Tether Scandal on Binance
Expert trader Peter Brandt highlights issues with using Tether on Binance, hinting at likely tricks.
Famous trader Peter Brandt has called out issues with Tether on Twitter. He says people who criticize the US dollar but keep their money in Tether on Binance, a big crypto exchange, are being tricked.
Tether is a cryptocurrency tied to the US dollar. This means one Tether is always worth one dollar. People use it for trading on Binance, a website run by Changpeng Zhao (CZ).
Brandt says there are problems with keeping Tether on Binance. He shared an example where Binance sold a user's Bitcoin for $8,000 each. But, at the same time, Bitcoin was worth $60,000 each on other websites.
Brandt thinks CZ might be behind these problems. In June, he further stated that Bitcoin is the only reliable investment in the crypto market.
Currently, Bitcoin's price is $30,118, which is a bit lower than before.
