The huge differences in crypto spot prices on Binance US and other exchanges in the past few days have undeniably created a huge arbitrage opportunity for registered customers. On Monday during the early Asian market, Bitcoin and Ethereum prices on Binance US traded around $27.6k and $1,706 respectively. For comparison purposes, the same assets traded around $30.1k and $1,858 respectively on other exchanges according to market data provided by TradingView.
The Tether USDT and USD derivative pair was also trading at discount on Binance US having dropped as low as 88 cents on Sunday. However, the difference in prices could be a technology error since clicking on individual assets pops out the same values as other exchanges.
According to veteran Wall Street trader Peter Brandt, Binance US, and CEO Changpeng Zhao should be considered the scam of the decade. While suggesting that the crypto bubble is popping, Brandt bashed crypto enthusiasts who continually debase the United States dollar while still holding Tether USDT on Binance US.
In the past, Brandt has issued several Bitcoin analyses but remained somehow neutral on exchanges. However, the analyst has focused on warning his millions of followers of scams that needs to be avoided.
In defense, Binance’s CZ noted that more FUDs will continue flying around but will not stop the team from building in the cryptocurrency market.
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