- Cathie Wood said thought leaders should assess lessons from crypto crises.
- She believes Bankman-Fried hated Bitcoin because of its decentralization and transparency.
- Bahamas regulator seized over $3.5 billion of FTX customers’ assets.
As the dust of the crypto market rumble settles, a Web3 leader is calling on the crypto thought leaders to pick lessons and make new projections for the coming year. Cathie Wood, the founder, and CEO of Ark Invest, a global asset manager specializing in disruptive innovation, said:
It is a good time for thought leaders to assess lessons learned from crypto crises and reassess the outlook for bitcoin, ether, and other crypto assets.
Wood also argued that Sam Bankman-Fried, the disgraced CEO of the bankrupt FTX exchange, hated Bitcoin ‘because of its decentralization and transparency as he could not control it.’ A verified Twitter user @sharath_darsha supported the CEO’s claim, adding, ‘SBF never liked Cardano (ADA) too, even though it was a top 10 crypto coin.’
Notably, until FTX’s demise, the platform never listed ADA despite the continued pressures from the ADA community. Bankman-Fried previously said it was not intentional but that the delay in listing ADA was to ensure the exchange had good Cardano validators parsing for deposits and withdrawals.
In a related development, a recent press release by the Securities Commission of the Bahamas showed that the regulator has been holding more than $3.5 billion in FTX client assets since November 12.
The regulator cited security concerns as the primary reason for the decision to seize custody of the money after $370 million and $400 million in crypto assets were stolen from the exchange’s wallets hours after it filed for bankruptcy protection.