- Jim Cramer said he finds the level of arrogance intriguing for people who think that crypto is good.
- The host of Mad Money on CNBC spoke at length about the flaws that some altcoins suffer.
- Cramer mentioned Solana and Ripple together, which hinted that Ripple is in the same boat as FTX and Solana.
The host of Mad Money on CNBC and CNBC Investing Club, Jim Cramer quoted in a recent talk show with Squawk Box that he finds the level of arrogance astounding in people who think that crypto is good.
Cramer spoke at length about the flaws in regulation that make some altcoins suffer and how the government doesn’t find the need to regulate them. Cramer added:
“What do we know about Solana? What do we know about XRP? The answer is zero. The reason we know zero is because the government doesn’t feel it should be regulated.”
Cramer said he has a problem with the dollar, the same problem that the crypto investor Barry Silbert has in terms of the huge amounts of debt, but in such instances, one can easily switch to gold or other assets like real estate. But instead, people prefer cryptocurrencies like Solana and Ripple which the government does not feel should be regulated. Cramer added that he would have rather preferred Enron, which was a very well-traded stock.
A Twitter analyst by the name of Digital Asset Investor wrote a tweet where he felt that Ripple was unnecessarily called out a couple of times in recent interviews. Recently, on Fox Business’ “Morning with Maria” show, the media house published a headline stating that a settlement between Ripple and the SEC was expected, however, it was soon declared false but the Twitter community believed it was not just a coincidence, there was an underlying message that was not relayed clearly.
Similarly, yesterday on the talk show, Cramer mentioned Solana and Ripple together, which also hinted at Ripple being in the same boat as FTX and Solana. Solana recently suffered a downfall with the fall of FTX. Reportedly, FTX founder Sam Bankman-Fried was a prominent backer of the group. Another Twitter user, Blackberry XRP, wrote “see what they’re doing…trying to mix in XRP with SOL and the rest of the turdZ. Solana’s death is near…IMO.”
Subsequently, with all the events in the crypto landscape, the crypto community believes that the price of Ripple would be affected by all the happenings. Ripple is still in its last legs in the lawsuit with the SEC.
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