Jim Cramer Labels Binance A 'Sham' Amid SEC Lawsuit, Says Crypto Investors Now Have To 'Work In Overdrive'
Portfolio Pulse from Mehab Qureshi
CNBC's Mad Money host Jim Cramer labels Binance a 'sham' amid the SEC lawsuit against the cryptocurrency exchange and its founder Changpeng Zhao for alleged securities violations. Cramer warns crypto investors to work in overdrive as the SEC's case highlights systemic issues within the industry.
June 06, 2023 | 9:50 am
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NEGATIVE IMPACT
The SEC lawsuit against Binance and its founder has caused major cryptocurrencies, including Bitcoin, to decline, with BTC trading down 4.12% at $25,780.80.
The SEC lawsuit against Binance, one of the largest cryptocurrency exchanges, has caused a decline in major cryptocurrencies, including Bitcoin. As the case highlights systemic issues within the crypto industry, it is likely to negatively impact Bitcoin's price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80