{"id":180447,"date":"2023-08-23T15:40:55","date_gmt":"2023-08-23T15:40:55","guid":{"rendered":"https:\/\/precoinnews.com\/?p=180447"},"modified":"2023-08-23T15:40:55","modified_gmt":"2023-08-23T15:40:55","slug":"peter-brandt-accuses-binance-and-bnb-of-involvement-in-scam-amid-alleged-sanction-violations-coinpedia-fintech-news","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/peter-brandt-accuses-binance-and-bnb-of-involvement-in-scam-amid-alleged-sanction-violations-coinpedia-fintech-news\/","title":{"rendered":"Peter Brandt Accuses Binance and BNB of Involvement in Scam Amid Alleged Sanction Violations – Coinpedia Fintech News"},"content":{"rendered":"

Renowned trader Peter Brandt has a stark warning for Binance and its cryptocurrency Binance Coin (BNB), labeling BNB as \u201c$BNB just a cheap fiat<\/em><\/strong>\u201d and calling Binance a \u201cglobal scam<\/em><\/strong>.\u201d This warning came in response to an X post<\/strong> by investor Mike Alfred. Binance\u2019s past threats to shut down operations have shaken investor confidence, and Brandt\u2019s remarks could further pressure BNB\u2019s market value. <\/p>\n

How\u2019s Crypto Reacting To Brandt\u2019s Criticism? <\/strong><\/h2>\n

BNB, 4th largest crypto with a $32 billion market cap, has been negatively impacted by increasing regulatory pressure on Binance over the year. Due to this BNB has lost 15% of its value since January, while Bitcoin has gained 55% in the same period, adding the pressure on BNB. Despite this, BNB has shown some recovery after dropping to $203, trading above $215 recently. <\/p>\n

While @WhaleChart on X noted that Binance is reportedly selling Bitcoin to try and stabilize the falling price of BNB. <\/p>\n

But giving a positive signal, the analyst Crypto Rover, said that if Binance Falls it will be all good for Bitcoin. <\/p>\n

Fraud, Legal Scam, Regulatory Pressure Circling Binance, What Next? <\/strong><\/h2>\n

According to the Wall Street Journal report, Binance is allegedly involved in transactions with sanctioned Russian banks, which could lead to legal problems in the US. The dark facts revealed in the report were that Binance is handling Russia\u2019s currency and converting funds from sanctioned banks to cryptocurrencies.<\/p>\n

Whereas, this contradicts Binance\u2019s previous denial of breaking sanctions. Despite this, Binance recently lifted restrictions for Russian users. If the reports are true Binance will be in a serious legal scoop pertaining to national security breaches.\u00a0<\/p>\n

In the ongoing regulatory trial, Binance is also being investigated by the United States Department of Justice (DOJ) for suspected money laundering, violation of securities laws, and non-compliance with global sanction laws.<\/p>\n

Notably, the exchange is also under regulatory waters in various European jurisdictions, leading to its withdrawal from countries like Cyprus, Netherlands, and Germany. Additionally, Binance\u2019s Malta and Ireland businesses have also been investigated for money laundering and tax violations.<\/p>\n

Overall, Peter Brandt\u2019s criticism of Binance adds to the scrutiny the exchange is facing from both regulators and prominent figures in the cryptocurrency industry.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Renowned trader Peter Brandt has a stark<\/p>\n","protected":false},"author":3,"featured_media":180446,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nPeter Brandt Accuses Binance and BNB of Involvement in Scam Amid Alleged Sanction Violations - Coinpedia Fintech News - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/peter-brandt-accuses-binance-and-bnb-of-involvement-in-scam-amid-alleged-sanction-violations-coinpedia-fintech-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Peter Brandt Accuses Binance and BNB of Involvement in Scam Amid Alleged Sanction Violations - Coinpedia Fintech News - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Renowned trader Peter Brandt has a stark\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/peter-brandt-accuses-binance-and-bnb-of-involvement-in-scam-amid-alleged-sanction-violations-coinpedia-fintech-news\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-23T15:40:55+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/08\/Peter-Brandt-Accuses-Binance-and-BNB-of-Involvement-in-Scam-Amid-Alleged-Sanction-Violations-Coinpedia-Fintech-News.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/peter-brandt-accuses-binance-and-bnb-of-involvement-in-scam-amid-alleged-sanction-violations-coinpedia-fintech-news\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/peter-brandt-accuses-binance-and-bnb-of-involvement-in-scam-amid-alleged-sanction-violations-coinpedia-fintech-news\/\",\"name\":\"Peter Brandt Accuses Binance and BNB of Involvement in Scam Amid Alleged Sanction Violations - 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