- Jim Cramer of CNBC urges investors to sell their cryptocurrency as soon as possible because it’s just “one big hustle.”
- Cramer cites infighting among major crypto players as a sign of a “financial world that’s falling apart.”
- John Stark, a former SEC official, argues that the crypto world is filled with grift and backstabbing.
Jim Cramer, a financial commentator for CNBC, recently called for individuals who own cryptocurrency to sell it as soon as possible.
In a recent segment discussing investment strategies for the early months of 2023, Mad Money host Jim Cramer turned his attention to the volatile world of cryptocurrency.
Despite previously expressing skepticism towards Sam Bankman-Fried and his company FTX, Cramer acknowledged the ongoing power struggles and internal conflicts within the cryptocurrency industry.
Cramer cited infighting among major players in the cryptocurrency industry as a sign of a “financial world that’s falling apart.”
He also pointed to John Stark, a former SEC official, who has written about the prevalence of grift and backstabbing in the crypto world.
In a video clip on Mediaite, Cramer argued that cryptocurrency is not a secure investment and referred to it as “one big hustle.”
These constant wars among industry insiders highlight the greed and individualistic focus driving the crypto market, rather than any genuine concern for the well-being of the community or the larger economic system.