Acting as a reverse indicator among the crypto community, Jim Cramer triggered concerns when he spoke positively this time. Legendary stockbroker unusually praises Binance, BNB and CEO CZ…
Jim Cramer is bullish on Binance and BNB
The host of the Mad Money program, Jim Cramer, announced that he has positive expectations for the leading crypto exchange Binance and BNB. However, despite this positive view, the crypto community is concerned about the problems Binance CEO CZ is facing.
In a discussion on September 5, Jim Cramer expressed that Binance and BNB could potentially experience a rise. He stated that at a time when Binance is struggling with regulatory pressure and other challenges, CZ is a solution-oriented leader and tries to curb the FUD (Fear, Uncertainty and Doubt) elements.
“They proved collateral, not reserves, but CZ seems like a good guy. I’m on the rise here. I am considering investing in tokens (BNB). Also, I see some tokens being oversold!” It was Jim Cramer’s statements in which he voiced his bull expectations.
If you’re wondering why Jim Cramer is the ‘reverse indicator’, cryptocoin.com Take a look at what happened in 2022. The legendary stockbroker also made a few wrong predictions. Therefore, some members of the crypto community are expecting the opposite of their bullish predictions.
Why does CNBC host trust BNB?
As Cramer stated in his statements, he is confident that Binance is protecting its crypto reserves in a 1:1 ratio. He also expressed his confidence in CEO CZ.
In June 2023, the SEC started the legal process against Binance and CEO Changpeng Zhao. The US regulator has filed a petition for an emergency temporary restraining order. He stated that he bought this with the aim of “keeping customer assets safe”. You can check the details in this article. Jim Cramer thinks CZ has successfully deflected news of Fud this and next months.
