Home Bitcoin SBF ‘did not like’ decentralized bitcoin – Cathie Wooden, CEO of ARK Make investments

SBF ‘did not like’ decentralized bitcoin – Cathie Wooden, CEO of ARK Make investments

SBF ‘did not like’ decentralized bitcoin – Cathie Wooden, CEO of ARK Make investments

Bitcoin (BTC) is just too “decentralized and clear” for former FTX CEO Sam Bankman-Fried, says Cathie Wooden.

In a Dec. 10 tweet, Wooden, CEO of funding large ARK Make investments, delivered a brand new, scathing tackle the FTX saga.

Wooden: SBF ‘could not management bitcoin’

Because the authorized ramifications of FTX and Bankman-Fried, aka SBF, proceed, bitcoin loyalists present little sympathy for him.

ARK’s Wooden is now firmly amongst them and talking out as BTC worth motion continues to commerce roughly 20% down over the month.

“The Bitcoin blockchain has not missed a beat through the disaster created by opaque centralized actors,” she wrote.

“No surprise Sam Bankman did not like Fried Bitcoin: It is clear and decentralized. He could not management it.”

Wooden pointed to ARK Make investments’s newest Bitcoin market round-up, The Bitcoin Month-to-month, by which analysts, together with David Puell, got here out bullish on BTC regardless of the latest setbacks.

“ARK’s perception in decentralized and clear public blockchains is as robust as ever,” it stated.

“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, significantly fraudulent ones.”

Nonetheless, as Cointelegraph reported, ARK has doubled its publicity to different crypto corporations feeling the warmth of FTX, most notably Grayscale, a part of Digital Forex Group (DCG) conglomerate, within the type of elevated holdings in Grayscale Bitcoin Belief (GBTC). .

The most recent buy of almost 177,000 GBTC shares was on Nov. 21, in line with information from Wooden’s devoted web site, Cathie’s Ark.

ARK Make investments GBTC inventory chart (screenshot). Supply: Cathie’s Ark

Bankman-Fried has few allies in Bitcoin

In the meantime, the FTX saga continues, with Bankman-Fried taking heart stage as extra revelations floor.

Associated: Bitcoin worth liquidation threat rises as BTC struggles to reclaim $18,000

Among the many most up-to-date was information that FTX had backed crypto information outlet The Block by means of covert funds to its former CEO, Mike McCaffrey.

Further reviews recommend that Bankman-Fried was intentionally trying to destabilize the Bitcoin blockchain to restrict FTX fallout.

“Sam has used stolen and counterfeit cash to deprave the institution and undermine Bitcoin,” MicroStrategy CEO Michael Saylor tweeted over the weekend in a equally powerful stance as Wooden.

“That is simply the tip of the iceberg. What number of different journalists, lecturers, wealth managers, politicians, charities, influencers and lobbyists has he corrupted or co-opted?”

BTC/USD traded above $17,000 to shut out the week, information from Cointelegraph Markets Professional and TradingView confirmed, with macro volatility pending within the coming week.

BTC/USD 1-Day Candlestick Chart (Bitstamp). Supply: TradingView

The views, ideas, and opinions expressed herein are solely these of the authors and don’t essentially mirror or symbolize the views and opinions of Cointelegraph.


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