Jim Cramer was the target of ire on social media on Friday after crypto trader Coinbase\u2019s stock shot up just a week after the CNBC finance guru warned of an SEC probe into the company.<\/p>\n
On July 26, Cramer tweeted: \u201cThe Coinbase roll over on a possible SEC investigation is very bad news given that we don\u2019t even know what it\u2019s about. But they were always hoping to avoid SEC scrutiny.\u201d<\/p>\n
Twitter users then posted screenshots showing\u00a0Coinbase\u2019s stock price soar<\/a>\u00a0by more than 16% on Thursday to above $106 a share.<\/p>\n Coinbase The crypto exchange announced on Thursday that it has entered into a partnership with investment giant BlackRock The sharp rise in Coinbase stock price prompted critics on Twitter to dunk on Cramer.<\/p>\n \u201cI don\u2019t care if a company is the next Amazon. If Jim Cramer is recommending the stock I will never buy,\u201d tweeted accountant and financial news analyst Genevieve Roch-Decter.<\/p>\n Another Twitter user noted: \u201cJust one week after Jim Cramer became bearish on Coinbase, the stock ripped 89%.\u201d<\/p>\n \u201cNever take financial advice from Jim Cramer!\u201d crypto podcaster Tony Edward tweeted.<\/p>\n Last month, an ex-Coinbase employee\u00a0was arrested and charged for an alleged insider trading scheme.<\/a><\/p>\n Ishan Wahi, 32, worked as a product manager for Coinbase. The federal government alleges that Wahi tipped off his brother, Nikhil Wahi, and a friend about the company\u2019s secret plans to begin offering certain cryptocurrencies.<\/p>\n Federal investigators allege that the three men were able to pocket $1.5 million in profits.<\/p>\n Coinbase said it launched its own internal investigation of the matter and that it turned over its findings to the Department of Justice.<\/p>\n This article was first published on NYPost.com<\/a><\/strong><\/p>\n<\/p><\/div>\n<\/div>\n
\n COIN,
\n +4.67%<\/a>
\n was trading at around $92 a share on Friday. In the last five days, the company\u2019s stock has risen by more than 50%.<\/p>\n
\n BLK,
\n -0.01%<\/a>,<\/span>
\n the world\u2019s largest asset manager, which will allow its institutional clients to buy digital currencies such as bitcoin.<\/p>\n