FUD Alert: Jim Cramer Reportedly Bullish On Binance And BNB

Varinder Singh
September 5, 2023 Updated September 6, 2023
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Jim Cramer Embraces 'Number Go Down' Theme As Bitcoin Drops 20% From High

The crypto community voiced concerns after Mad Money host Jim Cramer reportedly said he is bullish on crypto exchange Binance and BNB. He also stated positive comments on Binance CEO Changpeng “CZ” Zhao. Meanwhile, BNB risks falling as it currently trades near support and Binance and CZ are facing lawsuits by the SEC and CFTC, with some believing a DOJ lawsuit is under way.

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Jim Cramer Comments on Binance and CEO CZ

An image showing Jim Cramer talking about Binance, BNB coin, and CEO CZ shared extensively on September 5. He asserts that despite Binance being under regulatory pressure and other hurdles, CZ has tried to provide proof and prevented FUD.

“They proved collateral, not reserves, but CZ looks like a good guy. I’m bullish here, loading up on their tokens. Way oversold!”

Image

The statement spread like fire in the crypto community, with everyone wondering whether “inverse Cramer” will impact Binance, BNB, or CZ in any way. CoinGape Media was unable to confirm this statement from Jim Cramer.

Binance and CZ are already facing regulatory heat and a lawsuit from the U.S. Securities and Exchange Commission (SEC). In fact, the SEC seeks a court order on filing a secret document in the lawsuit.

In June, Binance warned Jim Cramer after he compared the exchange with the bankrupt exchange FTX. He also urged investors to take their crypto off Binance.

CoinGape Media earlier reported that Binance to introduce changes to the zero-fee Bitcoin trading program regarding BTC/TUSD spot and margin pairs from September 7. This may trigger a crypto market selloff. Crypto trading volumes fell 90% after the termination of zero-fee trading for USDT by Binance in March.

The news was later revealed to be a photoshopped image of an earlier interview on CNBC.

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BNB Price Fell Slightly

BNB price currently trades near major support, continuing to trade under pressure. If the support is lost, BNB can drop down to $100 as there is no significant support level.

In fact, BNB started falling after the comment by Jim Cramer. Traders are actively watching over the impact of Cramer on the crypto market.

BNB price trades at $214, down nearly 0.50% in the last 24 hours. The trading volume has increased slightly by 6% in the past 24 hours.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.