Cathie Wood, CEO of investment firm ARK Invest, has said cryptocurrencies have become protective assets in the context of the banking crisis in the United States.
She has stated:
“This debacle would not have been possible in the decentralized, transparent, auditable, and over-collateralized crypto asset ecosystem. Indeed, during the last week, crypt assets behaved like safe havens: along with gold, their prices appreciated.”
Wood has also criticized US regulators for using the cryptocurrency sector as a scapegoat to justify their own failures in overseeing the traditional banking system.
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She has opposed multiple key rate hikes by the Fed last year. By February 2023, the rate has risen to 4.5-4.75% per annum.
Cathie has said:
“Crypto did not force SVB and Signature into bankruptcy. In my view, Fed policy was the primary culprit. Because of a VC funding drought and higher yields on money market funds, deposits left the US banking system.”
According to Wood, regulators may prevent the US from “participating in the most important phase of the Internet revolution.” She believes the cryptocurrency sector could leave the country, depriving it of “one of the most important innovations in history.”
Источник: ru.ihodl.com
