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    Home»Cryptocurrency»Jim Cramer Expects SEC to ‘Do a Roundup’ of Uncompliant Crypto Firms — Urges Investors to Get Out of Crypto Now – Regulation Bitcoin News
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    Cryptocurrency

    Jim Cramer Expects SEC to ‘Do a Roundup’ of Uncompliant Crypto Firms — Urges Investors to Get Out of Crypto Now – Regulation Bitcoin News

    adminBy adminJanuary 8, 2023No Comments3 Mins Read
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    Mad Money host Jim Cramer says he expects the U.S. Securities and Exchange Commission (SEC) to do a roundup of non-compliant cryptocurrency companies. Hoping the SEC will “clean up everything,” Cramer urges investors to “get out” of cryptocurrencies now.

    Jim Cramer’s Latest Crypto Warning

    Jim Cramer, host of CNBC’s Mad Money show, is back with another warning to crypto investors. Cramer is a former hedge fund manager, where he co-founded Thestreet.com, his website for financial news and literacy.

    next Joint statement Addressing crypto risks by the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC), Cramer said on CNBC Wednesday:

    I think these statements are the beginning of what I’ve been asking. That is, the SEC makes the rounds of all statements. [crypto firms] non-compliant people.

    Quoting John Stark, a lawyer in the SEC’s enforcement arm for more than 18 years, Kramer emphasized that Stark “is now seeking a cleanup.” I am emphasizing that

    He said the SEC will wipe everything out.

    “I see a lot of people, like John Stark, feeling like this is just a huge scam,” Kramer continued. He added that he expects former FTX CEO Sam Bankman-Fried (SBF) to be a key figure in the SEC roundup.

    Cramer explains:

    I’m not calling for the collapse of cryptocurrencies. I call for the demise of those participating in Ponzi schemes.

    Despite the warning signs, Cramer explained that he is “bidding” on the price of the cryptocurrency. He warned investors to withdraw money from cryptocurrencies while they can.

    mad money host had invested with Bitcoin, Ethereum, and Non-Fungible Tokens (NFTs), but he sold All his crypto assets in the last year.he advises investors to avoid investment in speculative assets, including crypto, the Federal Reserve continues to tighten the economy.Earlier this month, he advised He stressed that investors need to get out of cryptocurrencies and that it is never too late to get out of a “bad position.”he also said don’t touch the code in a million years.

    As to why the price of Bitcoin is so resilient at the high $16,000 level, Cramer said on Friday: Because it’s fake and a scam. The Mad Money host concluded that cryptocurrency prices are “rising by people who want them to rise, that’s all.”

    What are your thoughts on Jim Cramer’s take on cryptocurrencies? Let us know in the comments section below.

    Kevin Helms

    An Austrian economics student, Kevin has been an evangelist since he discovered Bitcoin in 2011. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.




    image credit: Shutterstock, Pixabay, Wiki Commons

    Disclaimer: This article is for informational purposes only. This is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com It is not intended to provide investment, tax, legal or accounting advice. NEITHER THE COMPANY NOR THE AUTHOR WILL BE LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY DAMAGE OR LOSS ARISING OR ALLEGED TO OCCUR ARISING OUT OF OR RELATING TO YOUR USE OF OR RELIANCE ON ANY CONTENT, PRODUCTS OR SERVICES DESCRIBED IN THIS ARTICLE. We are not responsible.

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