“I think the SEC is very concerned about the Bitcoin exchange,” says CNBC Mad Money host Jim Cramer.
Bitcoin exchange in danger
CNBC Mad Money host Jim Cramer suggested in a tweet today that the US Securities and Exchange Commission (SEC) is concerned about Binance. The comments came in response to the SEC’s limited objection to Binance.US’s acquisition of Voyager assets. The TV presenter decided that Binance might be ‘more fictitious than we thought’. The Mad Money server, after sounding warnings against crypto, said, “I don’t want people to lose money unnecessarily,” implying that users should withdraw their money from the exchange.
SEC not letting Binance close the Voyager deal.. i think the SEC is VERY worried that Binance will prove to be more chimerical than we think. I reiterate, i do nit like crypto and its defenders are too strident about its need… I just don't want people to lose money needlessly
— Jim Cramer (@jimcramer) January 5, 2023
Recall that last month, the analyst, who experienced what Binance CEO Changpeng Zhao calls a ‘stress test’, sent mixed messages to his followers about his opinion on the leading crypto exchange. Cramer appeared to support Binance on December 14, but said two days later that he would prefer to trust DraftKings with his money. It is worth noting that the expert predicts a bleak year for crypto assets, adding a lot to the excitement of the crypto community, which is used to seeing things that go against their predictions.
Appeal from SEC
Cramer isn’t the only one who suspects a deeper intent behind the SEC’s objection to the Binance-Voyager deal. Lawyer John Deaton said he suspects the regulator will sue the crypto exchange. In a recent development, the US Securities and Exchange Commission (SEC) has filed limited objections to Binance. The United States has offered a $1.02 billion acquisition of the assets of defunct crypto lender Voyager.
The crypto exchange’s ability to ‘complete a transaction of this size’, as well as details on how Binance.US plans to secure client funds and how Binance.US will rebalance its crypto portfolio, were among the information gaps the SEC had uncovered. its filing. In December, Voyager Digital announced that it has agreed to buy the assets of Binance.US for $1.02 billion. Bankrupt crypto lender Voyager had previously given permission to sell its holdings to the now-defunct crypto exchange FTX before Binance made a new bid. CNBC’s ‘Mad Money’ host, Jim Cramer, isn’t the first to criticize the world’s largest cryptocurrency exchange, Binance. cryptocoin.comAs we noted earlier, Cramer ironically said he would trust sports betting company DraftKings more than Binance when depositing money, saying Binance “had no real legitimacy” following the collapse of its main competitor, FTX.
