Jim Cramer Advises Against Using Binance, Provokes Strong Reactions From Twitter Users

Zinger Key Points
  • The CFTC has charged Binance with violating trading and derivatives regulations in a lawsuit filed in federal court in Chicago.
  • Jim Cramer has been warning investors about the cryptocurrency market.

Jim Cramer, the popular host of CNBC's Mad Money, says he doesn't want anything to do with Binance

In a tweet on Friday, Cramer said that, after listening to former Commodity Futures Trading Commission (CFTC) chairman Tim Massad, he would not do business with Binance and that the crypto exchange was "just way too sketchy." In response, Binance CEO Changpeng Zhao sarcastically posted an emoji of a folded hand, indicating a sign of thanks.

Twitter users also couldn't stop talking about Cramer's tweet.

One user mentioned Silicon Valley Bank, which Cramer had recommended investors purchase stocks of before the bank's collapse.  

Another user said Cramer had become a meme. 

A third user offered a different opinion than Cramer, claiming that Binance is "soaring" at the moment and that the crypo exchange doesn't care about recent unflattering coverage it has received from the press.

Photo: Shutterstock


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Posted In: CryptocurrencyNewsTop StoriesMarketsBinanceCFTCChangpeng ZhaoJim Cramer
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