, 2022-12-11 07:54:21,
Bitcoin (BTC) is too “decentralized and transparent” for former FTX CEO Sam Bankman-Fried, says Cathie Wood.
In a tweet on Dec. 10, Wood, who is CEO of investment giant ARK Invest, delivered a fresh damning appraisal of the FTX saga.
Wood: SBF “couldn’t control” Bitcoin
As the legal ramifications of FTX and Bankman-Fried, also known as SBF, continue, Bitcoin loyalists are giving him little sympathy.
ARK’s Wood is now firmly among them, not mincing her words as BTC price action continues to trade around 20% down over the month.
“The Bitcoin blockchain didn’t skip a beat during the crisis caused by opaque centralized players,” she wrote.
“No wonder Sam Bankman Fried didn’t like Bitcoin: it’s transparent and decentralized. He couldn’t control it.”
Wood linked to ARK Invest’s latest Bitcoin market summary, “The Bitcoin Monthly,” in which analysts including David Puell came out bullish on BTC despite the recent setbacks.
“ARK’s conviction in decentralized and transparent public blockchains is as strong as ever,” it stated.
“The FTX and other cases like Celsius and Alameda suggest that decentralization and transparency are paramount as antidotes to the gross mismanagement that can be associated with centralized intermediaries, especially fraudulent ones.”
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