“You can’t just beat yourself up and say, ‘hey, it’s too late to sell,'” Cramer said.
CNBC personality Jim Cramer told investors to dump their cryptocurrency investments during a scathing segment in the wake of FTX’s catastrophic bankruptcy.
“You can’t just beat yourself up and say, ‘hey, it’s too late to sell.’ The truth is, it’s never too late to sell an awful position, and that’s what you have if you own these so-called digital assets,” Cramer said MondayFTX’s collapse from a $32 billion valuation into bankruptcy last month upended the fledging sector and sparked fears of a “contagion” effect on other firms. FTX creditors are still owed billions of dollars, with no resolution in sight.
“Tether, a so-called stablecoin that’s supposed to be kinda-sorta pegged to the dollar, still has a $65 billion market cap,” Cramer said.
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