Peter Brandt Issues Crucial Scam Warning But Not About Bitcoin

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class="article__author-name">Yuri Molchan</div> </a> <div class="article__author-desc">Legendary trader warns his audience about the coming rise of trading scams</div> </div> <div class="article__wrap"> <div class="article__sticky"> <div class="share share--sticky"> <button class="btn--light share__btn" aria-label="Share btn"></button> <a class="share__link share__link--x" href="#" onClick='gEvent("twitter","shareSlide");window.open("https://twitter.com/intent/tweet?url=https://u.today/peter-brandt-issues-crucial-scam-warning-but-not-about-bitcoin&text=Peter Brandt Issues Crucial Scam Warning But Not About Bitcoin", "Twtitter Sharing", "width=1200,height=600");return false;' title="Share to X"></a><a class="share__link share__link--fb" href="#" onClick='gEvent("facebook","shareSlide");window.open("http://www.facebook.com/sharer/sharer.php?u=https://u.today/peter-brandt-issues-crucial-scam-warning-but-not-about-bitcoin&text=Peter Brandt Issues Crucial Scam Warning But Not About 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btn--light contents__btn" aria-label="Toggle contents"></button> <div class="contents__nav"><ul class="contents__list"><li class="contents__nav-item"><a class="contents__nav-link link-pseudo" href="#h259972">Brandt's warning about sham prop trading to community</a></li><li class="contents__nav-item"><a class="contents__nav-link link-pseudo" href="#h359972">Bigger warning earlier today</a></li></ul> </div></div> </div> <div class="article__body"> <div class="article__main"> <div class="article__main-head"> <div class="article__short"> <div class="humble article__short-humble"> <div> <a href="/latest-cryptocurrency-news" hreflang="en">News</a> </div> </div> <div class="humble article__short-humble"> Fri, 22/11/2024 - 15:13 </div> </div> <div class="article__main-btns"> <div class="article__fontSize"> <div class="btn--light article__fontSize-toggle"></div> <div class="article__fontSize-menu"> <div class="article__fontSize-item"> <div class="article__fontSize-btn" data-size="article-small"></div> </div> <div class="article__fontSize-item"> <div class="article__fontSize-btn" data-size="article-medium"></div> </div> <div class="article__fontSize-item"> <div class="article__fontSize-btn" data-size="article-large"></div> </div> </div> </div> <div class="article__listen"> <audio class="article__listen-audio" src="/tts/?page=59972" preload="none"></audio> <button class="btn--light article__listen-btn" aria-label="Play/pause audio"></button> </div> </div> </div> <div class="article__img--wrap"> <img class="article__img" src="/sites/default/files/styles/736/public/2024-11/54155.jpg" alt="Peter Brandt Issues Crucial Scam Warning But Not About Bitcoin"> </div> <figcaption>Cover image via <a href="/">U.Today</a></figcaption> </div> <div class="article__gnews"> <a class="article__gnews-body" href="https://news.google.com/publications/CAAqBwgKMMy2lQsw3ZqrAw?hl=en-US&gl=US&ceid=US:en" target="_blank"> <div class="article__gnews-text">Read U.TODAY on</div> <div class="article__gnews-title">Google News</div> </a> </div> <div class="article__content"> <div class="something"> <div class="something__title">Advertisement</div> <div class="something__nav"> <button class="btn btn--light something__close" aria-label="Close ad"></button> </div> <div class="something__content"> <div id="bsa-zone_1732620947443-4_123456"></div> </div> </div><p lang="en-GB">Savvy commodities trader <a href="https://u.today/bitcoin-to-finally-bury-ethereum-peter-brandt-issues-grim-epic-letter-from-the-grave-call">Peter L. Brandt</a> has published an important X post to warn his followers against a scam wave that he expects to be coming soon. These scams will be not about Bitcoin but about trading in traditional financial markets, he stated.</p><p lang="en-GB"><div class="article__related"> <div class="article__related-flame">Related</div> <div class="category-item"><a class="category-item__img-wrapper" href="https://u.today/elon-musks-meme-alert-sparks-crypto-communitys-heated-reaction-details"><img alt="Elon Musk’s Meme Alert Sparks Crypto Community’s Heated Reaction: Details" class="category-item__img" src="https://u.today/sites/default/files/styles/300/public/2024-11/54130.jpg" width="240" height="136"></a> <div class="category-item__info"> <div class="category-item__head humble__row"> <div class="humble humble--time">Fri, 11/22/2024 - 11:07</div> </div><a class="category-item__title-link" href="https://u.today/elon-musks-meme-alert-sparks-crypto-communitys-heated-reaction-details"> <div class="category-item__title">Elon Musk’s Meme Alert Sparks Crypto Community’s Heated Reaction: Details</div></a> <div class="category-item__footer"><a class="humble humble--author" href="/yuri-molchan"><img class="humble__img" src="https://u.today/sites/default/files/styles/130x/public/2021-07/8889.jpg" alt="Yuri Molchan">Yuri Molchan</a></div> </div> </div> </div></p><h2 id="h259972">Brandt's warning about sham prop trading to community</h2><p lang="en-GB">In his tweet, the skilled trader reminded the community about his earlier warnings related to the sham proprietary trading sphere and multiple “aspiring” scammers operating in it. Brandt wrote that the warnings his published were well justified.</p><div class="hot"> <div class="hot__head"> <div class="hot__title">HOT Stories</div> <a rel="nofollow" target="_blank" class="btn btn--light hot__btn" href="/hot-stories" title="Go to Hot stories"> </a> </div> <div class="hot__body"> <a href="https://u.today/xrp-reaches-extreme-risk-level" class="hot__col"> <div class="hot__col-name">XRP Reaches Extreme Risk Level</div> </a> <a href="https://u.today/new-sec-chair-pick-could-be-announced-tomorrow" class="hot__col"> <div class="hot__col-name">New SEC Chair Pick Could Be Announced Tomorrow</div> </a> <a href="https://u.today/xrp-predicted-to-drop-back-below-06-by-major-analyst" class="hot__col"> <div class="hot__col-name">XRP Predicted to Drop Back Below $0.6 by Major Analyst </div> </a> <a href="https://u.today/xrp-3-isnt-fantasy-right-now-shiba-inu-shib-performs-mind-blowing-breakthrough-bitcoin-btc-giving" class="hot__col"> <div class="hot__col-name">XRP: $3 Isn't Fantasy Right Now, Shiba Inu (SHIB) Performs Mind-Blowing Breakthrough, Bitcoin (BTC) Giving up on $100,000?</div> </a> </div> </div><p lang="en-GB">Peter Brandt says that now the time has come to start warning traders against scammers who will likely start promoting their training and coaching in trading soon. In particular, he warned that scammers will be claiming that “they have been profitable trading futures markets”. In this case, Brandt suggests, the best way to check if those achievements are real is to demand their IRS Form 1256 filings and not to take their word for it.</p><div class="something"> <div class="something__title">Advertisement</div> <div class="something__nav"> <button class="btn btn--light something__close" aria-label="Close ad"></button> </div> <div class="something__content"> <div class="something__content--long">  <ins class="adsbygoogle" style="display:inline-block;width:728px;height:200px" data-ad-client="ca-pub-9245916885225528" data-ad-slot="3561648781"></ins> </div> <div class="something__content--square">  <ins class="adsbygoogle" style="display:inline-block;width:300px;height:600px" data-ad-client="ca-pub-9245916885225528" data-ad-slot="2056995427"></ins> </div> </div> </div><div class="raw-html-embed"><blockquote class="twitter-tweet"><p lang="en" dir="ltr">I have been warning all of you aspiring traders of the sham prop industry. My warnings have been on target.<br><br>I am now warning you of all the whores will be promoting training and coaching. BE AWARE BE WARNED. If they claim they have been profitable trading futures markets, DEMAND…</p>— Peter Brandt (@PeterLBrandt) <a rel="nofollow" target="_blank" href="https://twitter.com/PeterLBrandt/status/1859945230725771535?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote> </div><h2 id="h359972">Bigger warning earlier today</h2><p lang="en-GB">In a couple of tweets published earlier today, Brandt tagged several X accounts that he believes to be scamming users in the prop trading industry. He indeed demanded that they produce their above-mentioned IRS filings: “it is time for you to produce your IRS forms 1256 to prove that you have made the money that you claim to have made. Put up or shut up please.”</p><p lang="en-GB">Several hours ago, he published a bigger “HUGE WARNING” to aspiring traders about scammers who have begun “heavy promotion in recent weeks”. “DON’T BE CONNED,” he tweeted, since “a lot of con men will be entering the space.”</p><div class="raw-html-embed"><blockquote class="twitter-tweet"><p lang="en" dir="ltr">Let me conclude this round of comments with a HUGE WARNING to aspiring traders. A new industry of whores and prostitutes will now develop and has even begun heavy promotion in recent weeks. The industry is those people/firms that claim to be experts in helping people transition… <a rel="nofollow" target="_blank" href="https://t.co/g8FO4OnLlJ">https://t.co/g8FO4OnLlJ</a></p>— Peter Brandt (@PeterLBrandt) <a rel="nofollow" target="_blank" href="https://twitter.com/PeterLBrandt/status/1859939353318850817?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote> </div><p lang="en-GB">In order to see if a firm that claims to be skilled at trading futures and wants to help new traders in improve, it is important, Brandt wrote to “DEMAND proof that they have been profitable” and not to believe their claims.</p><p lang="en-GB">Brandt shared a particular list of proofs that traders need to demand from those firms in that case: “A. Copies of their personal IRS Form 1256 (the form used to declare futures trading profits), or</p><p lang="en-GB">B. A years worth of month end statements from a registered FCM.”</p><p lang="en-GB"><div class="article__related"> <div class="article__related-flame">Related</div> <div class="category-item"><a class="category-item__img-wrapper" href="https://u.today/rich-dad-poor-dad-author-says-bitcoin-about-to-surpass-100000-hang-on-tight"><img alt="'Rich Dad Poor Dad' Author Says Bitcoin About to Surpass $100,000: ‘Hang On Tight’" class="category-item__img" src="https://u.today/sites/default/files/styles/300/public/2024-11/54119.jpg" width="240" height="136"></a> <div class="category-item__info"> <div class="category-item__head humble__row"> <div class="humble humble--time">Fri, 11/22/2024 - 09:19</div> </div><a class="category-item__title-link" href="https://u.today/rich-dad-poor-dad-author-says-bitcoin-about-to-surpass-100000-hang-on-tight"> <div class="category-item__title">'Rich Dad Poor Dad' Author Says Bitcoin About to Surpass $100,000: ‘Hang On Tight’</div></a> <div class="category-item__footer"><a class="humble humble--author" href="/yuri-molchan"><img class="humble__img" src="https://u.today/sites/default/files/styles/130x/public/2021-07/8889.jpg" alt="Yuri Molchan">Yuri Molchan</a></div> </div> </div> </div></p><p lang="en-GB">Traders should also check whether “an FCM is registered by searching their name on the National Futures Association web site,” according to the tweet.</p> </div> <div class="article__panel"> <div class="article__tags btns-spacer"> <a class="btn btn--hash-tag" href="/peter-brandt">#Peter Brandt</a> <a class="btn btn--hash-tag" href="/scam-alert">#Scam Alert</a> </div> </div> </div> </div> <div class="article__author -hr-"> <div class="article__author-label">About the author</div> <a class="article__author-user" href="/yuri-molchan"> <img width="224" height="140" alt="article image" src="https://u.today/sites/default/files/2019-11/yuri-ava.jpg" loading="lazy" class="article__author-img" /> <div class="article__author-name">Yuri Molchan</div> </a> <div class="article__author-desc">Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. 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Peter Brandt Issues Crucial Scam Warning But Not About Bitcoin