Jim Cramer urges investors to exit crypto – ‘it’s never too late to sell’

CNBC's Jim Cramer connected Monday told investors that they inactive person clip to merchantability their cryptocurrency holdings.

"You can't conscionable bushed yourself up and say, 'hey, it's excessively precocious to sell.' The information is, it's ne'er excessively precocious to merchantability an atrocious position, and that's what you person if you ain these alleged integer assets," helium said.

The illness of FTX, the bankrupt cryptocurrency speech that was worthy $32 billion astatine its peak, has thrown the crypto abstraction nether intense scrutiny and spurred mounting losses successful a marketplace that has seen integer assets get pummeled by the Federal Reserve's involvement complaint hikes.

Cramer, who has warned against staying successful speculative assets portion the Fed continues to tighten the economy, reiterated his statement and said that investors shouldn't beryllium fooled by immoderate coins' inflated marketplace capitalization. 

He added that helium expects much marginal names including XRP, dogecoin, Cardano and Polygon to autumn overmuch further, perchance to zero.

"Tether, a alleged stablecoin that's expected to beryllium kinda-sorta pegged to the dollar, inactive has a $65 cardinal marketplace cap," helium said, adding, "There's inactive a full manufacture of crypto boosters trying desperately to support each of these things up successful the aerial — not excessively antithetic from what happened with atrocious stocks during the dotcom collapse."