- Analyst Peter Brandt has tweeted to ask Binance about the 88% BTC crash.
- Mr. Brandt asked about the relations between Binance and Binance US.
- The famous trader added that he never used Binance for trading.
Famous trader and crypto critic Peter Brandt has taken to Twitter (NYSE:TWTR) to ask his four questions in the context of the flagship crypto’s 88% dropdown.
Questions remain:1. What is exact corp. relationship @binance w/ @BinanceUS 2. Will firm release T&S with all trades/volume/price?3. Did firm take opposite side of client fills4. Will firm change low to reflect actual fillscc: @GaryGensler @CFTC @SECGov @cz_binance @IBKR pic.twitter.com/huqzZbSGIt— Peter Brandt (@PeterLBrandt) October 24, 2021
At first, Mr. Brandt asked about the character of corporate relations between Binance and Binance US. Its unit focused on American markets.
In addition, Mr. Brandt asks Binance to release a detailed document to specify its trades. Also, the volume and prices during the flash-crash. Then, the analyst asked about the platform role of taking the opposite side of a client.
Adding to this, Mr. Brandt named the Interactive Brokers (NASDAQ:IBKR) platform, U.S. watchdogs CFTC, Gary Gensler, SEC, the SEC chairman, and Binance CEO and co-founder Changpeng “CZ” Zhao.
Simultaneously, Brandt attached a screenshot of a tweet by ZC when Binance’s boss warned his audience about expected volatility spikes across the crypto market. However, Mr. Brandt added he never used Binance for trading.
The response is an example of cockroaches scrambling when the lights are turned onApparently setting up different corporate shell structures is a license for ripping off customers https://t.co/5NshOZre4v pic.twitter.com/WiSrZEg68t
— Peter Brandt (@PeterLBrandt) October 23, 2021
On the other hand, he noted that on Oct. 21, 2021, amidst an expanding rally, the Bitcoin (BTC) price briefly tanked to the $8,000 level, losing more than 88% in no time.