While discussing the recent lawsuit filed by the United States Securities and Exchange Commission (SEC) against cryptocurrency trading platform Coinbase, Jim Cramer mispronounced the names of two well-known digital assets – Cardano (ADA) and Solana (SOL), which earned him ridicule from the founder of Cardano and his followers.
Indeed, the American author, journalist, and eccentric host of CNBC’s show ‘Mad Money’ referred to the above cryptocurrencies as “Cardanzo” and “Solano,” despite stating that “we all kinda know them” in a video retweeted by Charles Hoskinson, who added “It’s Car Dano Jim,” on June 6.
It's Car Dano Jim. https://t.co/MiKKedgLiS— Charles Hoskinson (@IOHK_Charles) June 6, 2023
As it happens, Cramer has already earned a significant amount of scorn from the crypto community as a vocal crypto industry critic (as in this video) and his often inaccurate predictions regarding certain digital assets, including suggesting investors sell Bitcoin (BTC) just as the flagship decentralized finance (DeFi) asset started to soar.
Meanwhile, the keyword “#Cardanzo” is already trending on Twitter, as the crypto crowd has taken to it as its new catchphrase, posting jokes such as “Cardano is dead. Long live Cardanzo” and “Bullish on Cardanzo.”
Hoskinson demands clear rules
More recently, Hoskinson also retweeted the screenshot posted by unusual_whales, which shows that someone had bought 19% out of the money (OTM) Coinbase (NASDAQ: COIN) options expiring in four days for $107,000 one day before the SEC lawsuit, turning $100,000 to millions as those positions went up “nearly 2,572%.”
Additionally, as the Twitter user pointed out, “Someone always knows.” Commenting on the above finding, the founder of the blockchain giant said that “Remember that we all need to be protected,” adding in the comments that “We need to pass a law” to achieve this.
Elsewhere, after the SEC filed a lawsuit against Binance, Hoskinson urged the participants in the crypto sector to “set aside its fragmented nature and unite for a common set of rules and guidelines that can prevent the United States from slipping into a dystopia that would make [George Orwell’s novel] ‘1984’ look like a vacation.”