Update
Binance CEO CZ stated that the relevant news was fake.
Mad Money host Jim Cramer, known as a reverse indicator in the cryptocurrency community, talked about Binance and BNB.
Speaking about Binance, CZ, and BNB on CNBC's Market Alert, Jim Cramer claimed that despite regulatory pressure and other obstacles Binance faced, CZ prevented the resulting FUD.
Commenting positively about Binance and CZ, Jim Cramer pointed out that Binance has not yet proven its cryptocurrency reserves and said:
“Binance still couldn't prove cryptocurrency reserves, they only proved collateral. But CZ seems like a good guy.
“I'm bullish on Binance and BNB here, and when I look at BNB, it's oversold.”
It was a matter of curiosity whether the positive Binance and BNB statements of Jim Cramer, known among the community as a reverse indicator, would negatively affect Binance and BNB.
Questions arose in the community: “Jim Cramer is bullish on Binance and BNB, is Binance next?”
BNB, which dropped to approximately $200, continues to be traded at $214 at the time of writing.
*This is not investment advice.