Popular U.S. host across the Atlantic of Mad Money, Jim Cramer, says he expects the U.S. Securities and Exchange Commission (SEC) to raid non-compliant crypto companies. Expecting the SEC to “will go through everything with a fine-tooth comb“, Cramer urges investors to “exit” from the crypto now.
Jim Cramer’s latest warnings about crypto-currencies.
CNBC’s Mad Money host Jim Cramer is back with new warnings for crypto-currency investors. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy site.
Following a joint statement on crypto-currency risks by the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), Jim Cramer said on CNBC Wednesday:
I think these statements are the beginning of what I’ve been calling for, which is that the SEC is going to go through all the ones that have been released. [crypto firms] That are not in compliance.
Citing John Stark, who was an attorney for more than 18 years in the SEC’s enforcement division, Cramer noted that Stark “is now calling for a sweep.“The Mad Money host pointed out:
He said the SEC is going to sweep everything up, and that’s why I’m telling everybody: get out of this.
“I see that a lot of people think, like John Stark, that this is just a giant scam“, continued Jim Cramer. He added that he expects former FTX CEO Sam Bankman-Fried (SBF) to be a major part of the SEC’s…
