Former stockbroker Jim Cramer, known for his anti-crypto views, is urging US regulators to take action. He’s been in the spotlight for a while now, with what he said about DOGE, Solana, and a few altcoin projects.
Jim Cramer warns about DOGE and cryptocurrencies
Cramer, the host of CNBC’s Mad Money, continues to sound the alarm about cryptocurrencies. He said on CNBC on Friday:
I wouldn’t touch crypto in a million years because I don’t trust the deposit bank.
Cramer then answered questions about whether he made a distinction between centralized and decentralized exchanges. “They struggled with regulation. They didn’t want regulation, and you don’t have any,” said Cramer, adding that he doesn’t trust any platform that doesn’t want regulation. The Mad Money presenter continues:
I’m just saying you use a lot of superstition and I like my money in JPMorgan and on Monday I check my balance is there. It feels good.
Dodge DOGE and these 5 coins
In his statements earlier this month, Cramer included ambitious statements about Ripple (XRP), Cardano (ADA), Polygon (MATIC), and Dogecoin (DOGE). cryptocoin.com advised investors to “get out” of these cryptos. More recently, he featured ‘fraud’ statements about Solana. Cramer makes similar accusations to Solana in XRP and Dogecoin.
Cramer is now advising crypto investors to “Try getting your money out.” However, he made strong statements to crypto investors and the community, citing Solana and Litecoin as examples:
I think anyone who owns these various cryptocurrencies – you know, Solana, Litecoin – I think you’re an idiot, okay? I didn’t go to college to be stupid. These people who have these things shouldn’t have them. They should not have them.
Jim Cramer Urges SEC to Conduct Massive Crypto Scan
Cramer also commented on SEC chairman Gary Gensler, stating that current securities laws are sufficient to regulate the crypto market. He wants the SEC to “come and push” crypto firms. He also said, “I think they need to do a big sweep. They have to stop people from making money.” made statements. “Fools make money. I don’t think idiots should create money and then suck people in. These are worse than even the worst Nasdaq stocks,” he concluded.
The Mad Money server used to invest in Bitcoin, Ethereum and multiple NFTs. But last year it sold out all its crypto investors. As the Federal Reserve continues to tighten the economy, Cramer advises investors to avoid investing in speculative assets, including crypto. Earlier this month, he advised investors to exit crypto. He stressed that it’s never too late to get out of a “terrible position”.
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