**Content Summary:**
The head of Binance, Changpeng Zhao, has been accused of manipulating the price of Bitcoin to prop up his Binance Coin (BNB) token. Investor Mike Alfred claims that Zhao is selling Bitcoin to support BNB’s weak tokenomics, which he believes will cause the token’s price to drop below $200. This theory is supported by trader Peter Brandt, who has called Binance a “global scam.” Analyst MartyParty also shares this opinion and speculates on Zhao’s tactics. Binance has faced regulatory pressure, with the SEC and CFTC taking action against the exchange. There is a theory that this is payback for the collapse of FTX, which was allegedly triggered by Zhao’s tip. Zhao denies these allegations and urges the crypto community to ignore fear, uncertainty, and doubt (FUD).
**Key Points:**
– Changpeng Zhao, the head of Binance, is accused of manipulating the price of Bitcoin to support his Binance Coin token.
– Mike Alfred claims that BNB’s weak tokenomics will cause its price to fall below $200.
– Trader Peter Brandt supports this theory and calls Binance a “global scam.”
– Analyst MartyParty speculates on Zhao’s tactics and believes US regulators are trying to “squeeze” him out of the crypto industry.
– Binance has faced regulatory pressure, with the SEC and CFTC taking action against the exchange.
**Hot Take:**
It is concerning to see such accusations against the head of a major crypto exchange like Binance. If true, this manipulation could have serious implications for the market and investor trust. However, it is important to consider all sides of the story and await further evidence before making any conclusions. Regulatory pressure on Binance is also a significant factor that could impact the future of the exchange.
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