Jim Cramer Advises Against Using Binance, Provokes Strong Reactions From Twitter Users

Jim Cramer, the popular host of CNBC's Mad Money, says he doesn't want anything to do with Binance. 

In a tweet on Friday, Cramer said that, after listening to former Commodity Futures Trading Commission (CFTC) chairman Tim Massad, he would not do business with Binance and that the crypto exchange was "just way too sketchy." In response, Binance CEO Changpeng Zhao sarcastically posted an emoji of a folded hand, indicating a sign of thanks.

Twitter users also couldn't stop talking about Cramer's tweet.

One user mentioned Silicon Valley Bank, which Cramer had recommended investors purchase stocks of before the bank's collapse.  

Didnt you tell us to buy Silicon Valley Bank?

— Lady of Crypto (@LadyofCrypto1) March 31, 2023

Another user said Cramer had become a meme. 

This dude has to know how much of a meme he’s become, right?!?! It’s all pretty much satire at this point.

— Nick Sheppard (@Shep_I_Am) March 31, 2023

A third user offered a different opinion than Cramer, claiming that Binance is "soaring" at the moment and that the crypo exchange doesn't care about recent unflattering coverage it has received from the press.

Binance is soaring like never before! It's clear that #BNB doesn't give a "duck" about negativity. Embrace the bullish vibes & let's keep quacking up those gains! #Binance #Crypto #RichQUACK $QUACK pic.twitter.com/E02QcQPJ9P

— RichQuack (@RichQuack) March 31, 2023

Last week, the CFTC charged Binance with violating trading and derivatives regulations in a lawsuit filed in federal court in Chicago. The crypto exchange facilitates trades in cryptocurrencies such as Bitcoin BTC/USD, Ether ETH/USD, Litecoin LTC/USD, Tether USDT/USD, and Binance USD BUSD/USD.  

Cramer has long warned investors about the cryptocurrency market. Earlier this month, when Bitcoin's price soared, he said he would sell his BTC "right into the rally", Bitcoin.com reported.  

Read Next: Jim Cramer Sold His Bitcoin, Ethereum Near The Top; Why He Thinks Crypto Is A 'Gigantic Con'

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