The founder and CEO of the world’s largest cryptocurrency exchange, Binance, mocked a recommendation made by a well-known market analyst who advised investors to sell cryptocurrencies. Urgently.
On Monday (10), CNBC journalist Jim Cramer said investors have a good chance of shorting their cryptocurrency before the market crashes further.
According to him, although cryptocurrencies have made significant returns in recent years, they are highly speculative and have many unknowns to draw upon.
A few days after the analyst’s publication, bitcoin and other cryptocurrencies continued to rise, with bitcoin’s value accumulating more than 20% in the following days. As a result, Binance CEO Changpeng Zhao (Zhao) made fun of the reporter’s claim.
CZ noted that Cramer not only mispredicted Bitcoin, but also the spread Food (fear, uncertainty and doubt) in the market.
“This is very ‘accurate’ now. Cramer posted this on Jan 9th, the day before Bitcoin went from 16k to 20k. KEEP Cryptocurrency FUD!” — posted CZ.
This is just too accurate now. Cramer posted this on January 9th, a day before bitcoin’s price surged from 16k to 20k.
Please keep encrypting FUD! 🙏 https://t.co/pDkk1BnfAr
– Czechoslovakia 🔶 Binance (cz_binance) January 14, 2023
Jim Cramer for Binance
Jim Cramer has been an advocate of cryptocurrencies, especially Ethereum, but in recent months, he has changed his stance and joined the growing number of crypto critics.
Late last year, Cramer published several posts against the cryptocurrency market, even telling investors to sell all of their assets before it’s “too late.”
As the cryptocurrency market is going through an unprecedented winter, Cramer said it’s never too late to sell assets, even when you’re at a loss.
In one of his speeches on CNBC earlier this year, Cramer called out cryptocurrency “Money Creation by Creativity”, She openly affirmed her anti-cryptocurrency stance, stating that she does not like these assets.
The Mad Money Show host also criticized Binance, ironically saying that he would trust his money to the sports betting company more than the stock exchange, saying that Binance “He has no real legitimacy.” After the collapse of its main competitor, FTX.
sell it all
Earlier this week, Cramer practically begged cryptocurrency investors to “sell,” describing the market as the house of cards.
The veteran reporter made the comments on Tuesday when asked about the ongoing downturn in the industry, particularly with the mass layoffs that have occurred at the largest US exchange, Coinbase.
“That’s it [mercado de criptomoedas] It’s just a house of cards.” Cramer said during an interview with the Squawk Box host, CNBC. “I think everything should be sold. added.
He has also been critical of Non-Fungible Tokens (NFT), suggesting that they are one of the biggest examples of everything that is wrong with the cryptocurrency market.
Does anyone actually own NFTs? I don’t even know what to do with a replaceable token. What do you do with a non-fungible code? “ Asked.