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Bitcoin (Bitcoin) is too decentralized and transparent for former FTX CEO Sam Bankman-Fried, says Cathie Wood.
and Tweet On December 10th, Wood, CEO of investment giant ARK Invest, gave a new critical assessment of the FTX saga.
Bitcoin supporters have little sympathy for him amid the ongoing legal ramifications of FTX and Bankman-Fried (also known as SBF).
ARK’s Wood is firmly in it without mincing her words as BTC’s price action continues to drop by about 20% in a month.
The Bitcoin blockchain didnt move fast during the crisis caused by opaque centralized players, she wrote.
No wonder Sam Bankman-Fried didnt like Bitcoin because it is transparent and decentralized. He had no control over it.
Wood links to ARK Invest’s latest bitcoin market overview, “The Bitcoin Monthly,” where analysts including David Puell became bullish in BTC despite recent setbacks.
ARK’s belief in a decentralized, transparent, public blockchain is stronger than ever, it said.
For FTX and other examples like Celsius and Alameda, decentralization and transparency are the most important antidotes to the serious mismanagement that can be associated with centralized intermediaries, especially fraudulent intermediaries. It suggests that it is important.”
as Cointelegraph reportnevertheless, ARK doubled its exposure to other crypto companies feel the heat From FTX, specifically Grayscale, which is part of the Digital Currency Group (DCG) conglomerate, in the form of increased holdings of Grayscale Bitcoin Trust (GBTC).
The latest purchase of approximately 177,000 GBTC shares was made on November 21, according to the company. data From Wood’s dedicated website, Cathie’s Ark.
Meanwhile, the story of FTX continues, with Bankman-Fried as the protagonist and new facts unfolding one after another.
Related: Bitcoin Price Liquidation Risks Increase As BTC Struggles to Recoup $18,000
Recently, there was news that FTX provided a grant to cryptocurrency news outlet The Block. secret payment To current former CEO Mike McCaffrey.
According to further reports, Bankman-Fried deliberately tried to destabilize the Bitcoin blockchain to limit the impact of FTX.
Sam used stolen and counterfeit money to corrupt the establishment and undermine Bitcoin, said MicroStrategy CEO Michael Saylor. murmured A similarly hardline stance against Wood over the weekend.
“This is just the tip of the iceberg. How many other journalists, academics, money managers, politicians, philanthropists, influencers and lobbyists have been corrupted or colluded with him?”
BTC/USD trades above $17,000 to close weekly trading. Here is the data: Cointelegraph Market Pro When TradingView Indicated macro volatility It’s scheduled for next week.
The views, thoughts and opinions expressed herein are those of the authors only and do not necessarily reflect or represent the views or opinions of Cointelegraph.
