{"id":9636,"date":"2023-01-08T02:08:31","date_gmt":"2023-01-08T02:08:31","guid":{"rendered":"https:\/\/www.cryptoheretostay.com\/?p=9636"},"modified":"2023-01-08T02:08:32","modified_gmt":"2023-01-08T02:08:32","slug":"jim-cramer-expects-sec-to-do-a-roundup-of-uncompliant-crypto-firms-urges-investors-to-get-out-of-crypto-now","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=9636","title":{"rendered":"Jim Cramer Expects SEC to &#8216;Do a Roundup&#8217; of Uncompliant Crypto Firms \u2014 Urges Investors to Get Out of Crypto Now"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>The host of Mad Money, Jim Cramer, says he expects the U.S. Securities and Exchange Commission (SEC) to do a roundup of crypto firms that are not compliant with regulation. Expecting the SEC \u201cto sweep everything,\u201d Cramer urges investors to \u201cget out\u201d of crypto now.<\/strong><\/p>\n<h2>Jim Cramer\u2019s Latest Crypto Warnings<\/h2>\n<p>The host of CNBC\u2019s Mad Money show, Jim Cramer, is back with more warnings for crypto investors. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website.<\/p>\n<p>Following a joint statement about crypto risks by the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC), Cramer said on CNBC Wednesday:<\/p>\n<p>I think these statements are the beginning of what I have been calling for, which is that the SEC is going to do a roundup of all of the ones [crypto firms] who are not compliant.<\/p>\n<p>Citing John Stark, who served as an attorney for over 18 years in the SEC\u2019s Enforcement Division, Cramer stressed that Stark is \u201cnow calling for a sweep.\u201d The Mad Money host emphasized:<\/p>\n<p>He said the SEC is going to sweep everything, which is why I am telling everybody: get out of these.<\/p>\n<p>\u201cI see a lot of people feel, like John Stark, that it\u2019s just a giant scam,\u201d Cramer continued. He added that he expects former FTX CEO Sam Bankman-Fried (SBF) to be material to the SEC roundup.<\/p>\n<p>Cramer clarified:<\/p>\n<p>I\u2019m not calling for a crypto collapse. I\u2019m calling for a collapse of the people in on the Ponzi scheme.<\/p>\n<p>Despite the warning signs, Cramer explained that \u201cpeople are bidding\u201d the prices of cryptocurrencies up. He proceeded to warn investors to get their money out of crypto while they can.<\/p>\n<p>The Mad Money host used to invest in bitcoin, ether, and non-fungible tokens (NFTs) but he sold all his crypto holdings last year. He has been advising investors to avoid investing in speculative assets, including crypto, while the Federal Reserve continues to tighten the economy. Earlier this month, he advised investors to get out of crypto, emphasizing that it is never too late to exit \u201can awful position.\u201d He also said he would not touch crypto in a million years.<\/p>\n<p>Regarding why the price of bitcoin is so resilient at the high $16K level, Cramer said Friday: \u201cWell, I\u2019ll tell you what Stark said. Because it\u2019s phony and a scam.\u201d The Mad Money host concluded that crypto prices are \u201cbeing propped up by people who want them propped up, and that\u2019s all there is.\u201d<\/p>\n<p><em><strong>What do you think about Jim Cramer\u2019s view on crypto? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/jim-cramer-expects-sec-to-do-a-roundup-of-uncompliant-crypto-firms-urges-investors-to-get-out-of-crypto-now\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The host of Mad Money, Jim Cramer, says he expects the U.S. Securities and Exchange Commission (SEC) to do a roundup of crypto firms that are not compliant with regulation. Expecting the SEC \u201cto sweep everything,\u201d Cramer urges investors to \u201cget out\u201d of crypto now. Jim Cramer\u2019s Latest Crypto Warnings The host of CNBC\u2019s Mad [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9637,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-9636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9636"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9636\/revisions"}],"predecessor-version":[{"id":9638,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9636\/revisions\/9638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/9637"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}