{"id":15825,"date":"2022-12-25T01:30:36","date_gmt":"2022-12-25T01:30:36","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/jim-cramer-urges-sec-to-do-a-big-crypto-sweep-says-i-wouldnt-touch-crypto-in-a-million-years-featured-bitcoin-news\/"},"modified":"2022-12-25T01:30:36","modified_gmt":"2022-12-25T01:30:36","slug":"jim-cramer-urges-sec-to-do-a-big-crypto-sweep-says-i-wouldnt-touch-crypto-in-a-million-years-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/jim-cramer-urges-sec-to-do-a-big-crypto-sweep-says-i-wouldnt-touch-crypto-in-a-million-years-featured-bitcoin-news\/","title":{"rendered":"Jim Cramer Urges SEC to Do a Big Crypto Sweep \u2014 Says ‘I Wouldn’t Touch Crypto in a Million Years’ \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The host of Mad Money, Jim Cramer, says he would not touch crypto in a million years. He called investors who own various altcoins idiots and urged the U.S. Securities and Exchange Commission (SEC) to do \u201ca big sweep\u201d on the crypto industry.<\/strong><\/p>\n

Jim Cramer\u2019s Crypto Warnings<\/h2>\n

The host of CNBC\u2019s Mad Money show, Jim Cramer, has issued more warnings about cryptocurrency. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. He said on CNBC Friday:<\/p>\n

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I would not touch crypto in a million years because I wouldn\u2019t trust the deposit bank.<\/p>\n<\/blockquote>\n

He was then asked whether he is making a distinction between centralized and decentralized platforms. \u201cThey fought regulation. They didn\u2019t want regulation and you don\u2019t have regulation,\u201d Cramer replied, indicating that he does not trust any platforms that do not want regulation.<\/p>\n

The Mad Money host continued:<\/p>\n

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I\u2019m just saying you are using a lot of blind faith, and I like to have my money at JPMorgan, and I check on Monday to see whether my balance is there. It feels good.<\/p>\n<\/blockquote>\n

\u201cTry getting your money out,\u201d he advised crypto investors, adding that when he had money at a crypto firm: \u201cIt was a fight to get the money out \u2014 a fight!\u201d<\/p>\n

Cramer opined:<\/p>\n

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I think that everybody who owns these various coins \u2014 you know, solana, litecoin \u2014 I do think you are an idiot, okay. I did not go to college to get stupid. These people who own these things should not own them. They shouldn\u2019t own them.<\/p>\n<\/blockquote>\n

Jim Cramer Calls on SEC to Do a Big Crypto Sweep<\/h2>\n

Cramer also commented on the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, stating that existing securities laws are adequate for the regulation of the crypto industry. He wants the SEC to \u201ccome on and enforce\u201d crypto firms.<\/p>\n

The Mad Money host added:<\/p>\n

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I think they need to do a big sweep. They have to stop people creating money.<\/p>\n<\/blockquote>\n

\u201cIt\u2019s the creation of money by cretins. I don\u2019t think cretins should create money and then suck people in. These are worse than even the worst Nasdaq stocks,\u201d Cramer concluded.<\/p>\n

The Mad Money host used to invest<\/a> in bitcoin, ether, and non-fungible tokens (NFTs) but he sold<\/a> all his crypto holdings last year. Cramer has been advising investors to avoid investing in speculative assets<\/a>, including crypto, while the Federal Reserve continues to tighten the economy. Earlier this month, he advised<\/a> investors to get out of crypto, emphasizing that it is never too late to exit \u201can awful position.\u201d<\/p>\n

What do you think about the warnings by Jim Cramer about the danger of crypto investing? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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