Jim Cramerthe host of CNBC’s Crazy Moneylashed out at the cryptocurrency markets again on Wednesday, calling it “really a sham.”

What happened: Cramer said his personal favorite piece of news from Wednesday was that crypto firm Genesis is reportedly planning to file for bankruptcy.

See more: Best Crypto Day Trading Strategies

In December, Cramer he said paid off its crypto investments last year and bought a farm with the proceeds. Now he wonders if the whole room is just one big hoax.

Cramer sold all of his Bitcoin BTC/USD last year and bought ether ETH/USD Instead, find that people actually use the latter for transactions. However, he sold his Ethereum position after finding out that his bank was not ready to accept it.

price action: At the time of writing, BTC is trading at $20,777, down 2.48% over the past 24 hours. according to Benzinga Pro.

Continue reading: Bitcoin Plunges Below $21,000, Ethereum, Dogecoin Slip Amid Genesis Worries: Analyst Says Apex Crypto “Just Needs to Catch a Few More Bears”

Photo: Courtesy of Scott Beales on Flickr