Binance faces criticism and legal action from Jim Cramer and influencers.
TL;DR
Jim Cramer, the host of Mad Money, has warned investors against using Binance, stating that the crypto trading platform is "way too sketchy." Cramer cited former regulator Timothy Massad, who previously served as chairman of the U.S. Commodity Futures Trading Commission (CFTC). The regulatory agency recently took action against Binance and its CEO, Changpeng Zhao (CZ). Massad described that the crypto trading platform engaged in a "systematic effort to cultivate U.S. business" and failed to comply with know-your-customer (KYC) regulations.
Topics:top-newscryptocurrency#binance#cryptocurrency#cryptocurrency-exchange#jim-cramer#kyc#regulations
- Jim Cramer Advises Against Using Binance — Says Crypto Exchange Is 'Way Too Sketchy' – Regulation Bitcoin News Bitcoin News
- Binance, NBA star Jimmy Butler, and crypto influencers hit with $1 billion suit for promoting unregistered securities Fortune
- Binance.US Volume Rises to New All-Time High, Plans Transition to New Banking Partners BeInCrypto
- Jim Cramer vs. CZ: 'Mad Money' Host Says Binance 'Way Too Sketchy' BSC NEWS
- CZ, Binance, influencers face $1B lawsuit for unregistered securities promo Cointelegraph
Want the full story? Read the original reporting
Read on Bitcoin News