CNBC host Jim Cramer is advising people to avoid cryptocurrencies, including Solana (SOL) and Litecoin (LTC).
In a new CNBC interview, Cramer reveals that in the aftermath of the FTX crash, he has sold all of his digital asset investments and will not return to the space.
“I would never touch cryptocurrency in a million years. Because I would not put my trust in a deposit bank. They fought against regulation. They did not want regulation, and you do not have it.
So, if you have your money in any of those, I’m not calling you an idiot; I’m just saying you’re taking a lot of chances.”
Cramer wonders whether anyone’s investments are safe, claiming difficulties in withdrawing funds from an unnamed firm.
“Try withdrawing your money. I’m not going to name the company where I invested my money. But getting the money out was a battle. A brawl.”
He specifically targets Ethereum (ETH) competitor Solana and the peer-to-peer payments network Litecoin.
