Bitcoin (BTC) is simply too “decentralized and clear” for former FTX CEO Sam Bankman-Fried, says Cathie Wood.
In a tweet on Dec. 10, Wood, who’s CEO of funding big ARK Invest, delivered a recent damning appraisal of the FTX saga.
Wood: SBF “could not management” Bitcoin
As the authorized ramifications of FTX and Bankman-Fried, also referred to as SBF, proceed, Bitcoin loyalists are giving him little sympathy.
ARK’s Wood 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 through 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.”
Wood linked to ARK Invest’s newest Bitcoin market abstract, “The Bitcoin Monthly,” during which analysts together with David Puell came out bullish on BTC regardless of the current setbacks.
“ARK’s conviction in decentralized and clear public blockchains is as sturdy as ever,” it said.
“The FTX and different circumstances like Celsius and Alameda recommend that decentralization and transparency are paramount as antidotes to the gross mismanagement that may be related to centralized intermediaries, particularly fraudulent ones.”
As Cointelegraph reported, ARK has nonetheless doubled down on its publicity to different crypto companies feeling the heat from FTX, notably Grayscale, a part of the Digital Currency Group (DCG) conglomerate, within the type of elevated holdings of the Grayscale Bitcoin Trust (GBTC).
The newest buy of almost 177,000 GBTC shares occurred on Nov. 21, in line with data from Wood’s devoted web site, Cathie’s Ark.
Bankman-Fried has few allies in Bitcoi
Meanwhile, the FTX saga rolls on, with Bankman-Fried taking middle stage as revelations proceed to pour out.
Among the latest was information that FTX backed crypto information outlet, The Block, through covert payments to its now former CEO, Mike McCaffrey.
Further reviews point out 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 in a equally hardline stance to Wood.
“This is simply the tip of the iceberg. How many different journalists, teachers, cash managers, politicians, charities, influencers, & lobbyists did he corrupt or co-opt?”
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