Jim Cramer Says Binance ‘Way Too Sketchy,’ Binance CEO CZ Reacts

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In a recent tweet, CNBC’s Mad Mon­ey host, Jim Cramer, took aim at the world’s largest cryp­tocur­ren­cy exchange, Binance. 

Cramer stat­ed he would not do busi­ness with Binance, adding it was “just way too sketchy.”

Cramer’s tweet got the atten­tion of Binance CEO Chang­peng “CZ” Zhao, who react­ed with an emo­ji that can mean “please” or “thank you.”

Some Twit­ter users inter­pret­ed CZ’s hand-pray­ing emo­ji to mean “sigh of relief,” as sev­er­al con­sid­ered the fact that Cramer’s pre­dic­tions often go the oppo­site of what he says.

Some say it remains a “bull­ish sig­nal” for Binance. This is not the first time Cramer has tak­en aim at Binance.

In Decem­ber, after FTX col­lapsed, Cramer said Binance had “no real legit­i­ma­cy.” He added that he would trust his mon­ey more in DraftK­ings, a sports bet­ting com­pa­ny, than in Binance.

Fol­low­ing the crit­i­cism, Binance CEO Chang­peng Zhao half-joked that Cramer should refrain from using Binance “for the sake of every­one else.”

Binance CFTC lawsuit

On Mon­day, the cryp­to indus­try got the shock­ing news that Binance had been slapped with a law­suit by the Com­mod­i­ty Futures Trad­ing Com­mis­sion (CFTC).

The CFTC’s moves were described as “unex­pect­ed and dis­ap­point­ing” by Binance. CZ’s first state­ment to the pub­lic was the num­ber “4,” which refers to an ear­li­er post in which he list­ed his “dos and don’ts for 2023: 4. Ignore FUD, fake news, attacks, etc.”

The CFTC’s law­suit “appears to con­tain an incom­plete recita­tion of facts, and we don’t agree with the char­ac­ter­i­za­tion of many of the issues alleged in the com­plaint,” CZ wrote in a longer blog post fol­low­ing up on his ini­tial response.

Binance “does not trade for prof­it or manip­u­late the mar­ket under any cir­cum­stances,” CZ claimed in reaction.



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