No, Jim Cramer Did Not Turn Bullish On Binance, Changpeng Zhao Issues Fake Alert: 'Phew..Saved.. 4'

A fake screenshot featuring Mad Money host Jim Cramer surfaced on X (formerly Twitter), depicting him praising Binance and its CEO Changpeng Zhao (CZ). 

What Happened: In the fraudulent screenshot, Cramer was allegedly quoted saying, “They proved collateral, not reserves, but CZ looks like a good guy. I’m bullish here, loading up on their tokens. Way oversold!” 

The manipulated screenshot of Jim Cramer allegedly praising Binance, which began circulating on X, was shared by a user named Crypto Rover (@rovercrc) on X, who falsely claimed that Cramer was expressing a bullish stance on Binance.

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Further investigation by Benzinga revealed that the screenshot was actually taken from a September 5 video in which Cramer discussed Treasuries, not cryptocurrencies.

Link to the original video.

Zhao later took to Twitter to debunk the image, confirming that it had been photoshopped and expressing relief.

phew… saved. 😂 Don't believe in a photoshopped image, guys. 4 https://t.co/3jX2LvMQOV

— CZ 🔶 Binance (@cz_binance) September 5, 2023

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Why It Matters: Binance and Zhao find themselves embroiled in regulatory issues and facing a lawsuit filed by the Securities and Exchange Commission (SEC). In fact, the SEC is currently seeking a court order to file a secret document as part of the ongoing legal proceedings.

This is not the first time Cramer has made remarks regarding Binance. In June, Cramer said that “the Binance brief by the SEC is so devastating that the defenders of this company will have to do some serious soul-searching and expend real capital to maintain what looks to be a sham.”

Price Action: At the time of writing, Bitcoin BTC/USD was trading at $25,846.92, up 0.77% in the last 24 hours, according to Benzinga Pro.

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