Bitcoin (BTC) is simply too “decentralized and clear” for former FTX CEO Sam Bankman-Fried, says Cathie Wooden.
In a tweet on Dec. 10, the chief government of funding big ARK Make investments delivered a recent damning appraisal of the FTX saga.
Wooden: SBF “could not management” Bitcoin
Because the authorized ramifications of FTX’s collapse proceed, Bitcoin loyalists are giving Bankman-Fried little sympathy.
ARK’s Wooden is now firmly amongst them, not mincing her phrases as BTC value motion continues to commerce round 20% down over the month.
“The Bitcoin blockchain didn’t skip a beat in the course of the disaster attributable to opaque centralized gamers,” she wrote.
“No surprise Sam Bankman Fried didn’t like Bitcoin: it’s clear and decentralized. He couldn’t management it.”
Wooden linked to ARK Make investments’s newest Bitcoin market abstract,, through which analysts together with David Puell came out as bullish on BTC regardless of latest setbacks.
“ARK’s conviction in decentralized and clear public blockchains is as sturdy as ever,” it acknowledged.
“The FTX and different instances like Celsius and Alameda counsel that decentralization and transparency are paramount as antidotes to the gross mismanagement that may be related to centralized intermediaries, particularly fraudulent ones.”
As Cointelegraph has reported, ARK has doubled down on its exposure to different crypto corporations which might be feeling the heat from FTX’s collapse. Most notably, it has elevated its holding of Grayscale’s Grayscale Bitcoin Belief (GBTC).
The most recent buy of almost 177,000 GBTC shares occurred on Nov. 21, in accordance with data from Wooden’s devoted web site, Cathie’s Ark.
Bankman-Fried has few allies in Bitcoin
In the meantime, the FTX saga rolls on, with Bankman-Fried taking middle stage as revelations proceed to pour out.
Among the many most up-to-date was information that FTX sponsored crypto information outlet The Block through covert payments to its now-former CEO, Mike McCaffrey.
There are additionally allegations that Bankman-Fried intentionally tried to destabilize the Bitcoin blockchain to assist restrict the FTX fallout.
“Sam used stolen & counterfeit cash to deprave the institution & undermine bitcoin,” MicroStrategy CEO Michael Saylor tweeted over the weekend, taking a equally hardline stance to Wooden.
“That is simply the tip of the iceberg. What number of different journalists, lecturers, cash managers, politicians, charities, influencers, & lobbyists did he corrupt or co-opt?”
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