Media personality Jim Cramer voiced his support for Binance in a Twitter post amidst negative speculation surrounding the firm. Cramer stated that he felt reassured by Binance and asked his followers if they shared the sentiment. 

CZ Says No to Cramer Endorsement

Binance CEO Changpeng Zhao responded to the tweet, alluding to the long-running inverse Cramer strategy. Cramer is widely-known to represent the consensus view in market trends, a position that rarely ever yields returns. This reputation has birthed two ETFs, the Inverse Cramer ETF and the Long Cramer ETF set to bet against his recommendations. 

Oh Jim, please don’t use Binance, for the sake of everyone else.

half joking

— CZ Binance (@cz_binance) December 14, 2022

As such, CZ jokingly asked Cramer not to endorse the exchange “for the sake of everyone else.” The official Twitter account for the Inverse Cramer ETF commented on him giving the green light to Binance. 

Binance had a great run,” the page stated. 

CZ Reassures Users and Employees 

The continued speculation has seen Binance suffer greatly. The world’s leading exchange has experienced a major surge in user withdrawals with about $1.14B exiting the platform on Tuesday. Binance has seen outflows nearing a total of $4B over the past week, however, the firm is still holding out.

Changpeng Zhao has encouraged users on Twitter against paying attention to the FUD. According to CZ, Binance has been faced with FUD since its inception, however, the negative publicity only helps the platform grow. Binance employees also received reassurance from the firm’s founder in a recent memo. 

In the company-wide release, CZ acknowledged the existing issues but asserted that Binance would weather the crypto winter. 

While we expect the next several months to be bumpy, we will get past this challenging period – and we’ll be stronger for having been through it.”

Regardless, Binance is still under an alleged FUD campaign. With scrutiny coming from Twitter and media houses. On Monday, amid rumors of media houses getting funded by FTX, CZ suggested there were still others.

smh, some media are still working for …

— CZ Binance (@cz_binance) December 12, 2022

 

The post Binance Founder CZ “Jokingly” Declines Jim Cramer’s Endorsement appeared first on Crypto Adventure.

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Filed under: Bitcoin - @ December 14, 2022 10:03 pm