Jim Cramer: "I Wouldn't Touch Crypto in a Million Years" – Mad Money Host Urges SEC to Crack Down
CNBC's Mad Money host Jim Cramer has lashed out at crypto investors once again, saying he wouldn't get involved with it "in a million years."
In an interview on Friday, Cramer spoke out against crypto market participants who hold various crypto assets like Solana and Litecoin, calling them "idiots." He said:
“I would not touch crypto in a million years because I wouldn’t trust the deposit bank.”
https://twitter.com/CNBC/status/1606336331407310848?s=20&t=yu36PDZg4EjvOxe-ZNYvaQ
The famed Wall Street pundit, who was discussing the fallout of the collapse of FTX, even expressed concerns regarding decentralized exchanges, claiming that he wouldn’t trust these platforms because they are not regulated.
“They fought regulation. They didn’t want regulation and you don’t have regulation,” Cramer said, suggesting that he does not trust any platforms that do not want regulation. He added:
“I’m 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.”
“Try getting your money out,” Cramer said, claiming that he didn’t have a good experience withdrawing his money from a crypto company. “It was a fight to get the money out — a fight!”
Cramer’s comments come as the bulk majority of digital assets have lost around 70% of their value compared to their all-time highs so far this year amid the recent market downturn.
Bitcoin, the world’s largest crypto exchange, has been hovering around the $17,000 mark since the start of November, which is down by almost 75% compared to its ATH of $68,789.63 recorded in November 2021. Similarly, Ethereum is down by around 75% from its ATH of $4,891. Cramer said:
“I think that everybody who owns these various coins
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