SBF ‘did not like’ decentralized Bitcoin — ARK Make investments CEO Cathie Wooden


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

In a tweet on Dec. 10, Wooden, who’s CEO of funding large ARK Make investments, delivered a contemporary damning appraisal of the FTX saga.

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Wooden: SBF “could not management” Bitcoin

Because the authorized ramifications of FTX and Bankman-Fried, also referred to as SBF, proceed, Bitcoin loyalists are giving him little sympathy.

ARK’s Wooden is now firmly amongst them, not mincing her phrases as BTC worth motion continues to commerce round 20% down over the month.

“The Bitcoin blockchain didn’t skip a beat throughout the disaster brought on by opaque centralized gamers,” she wrote.

“No surprise Sam Bankman Fried didn’t like Bitcoin: it’s clear and decentralized. He couldn’t management it.”

Wooden linked to ARK Make investments’s newest Bitcoin market abstract, “The Bitcoin Month-to-month,” by which analysts together with David Puell came out bullish on BTC regardless of the latest setbacks.

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

“The FTX and different instances like Celsius and Alameda counsel 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 Forex Group (DCG) conglomerate, within the type of elevated holdings of the Grayscale Bitcoin Belief (GBTC).

The most recent buy of almost 177,000 GBTC shares occurred on Nov. 21, in response to data from Wooden’s devoted web site, Cathie’s Ark.

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

Bankman-Fried has few allies in Bitcoi

In the meantime, the FTX saga rolls on, with Bankman-Fried taking heart stage as revelations proceed to pour out.

Associated: Bitcoin price liquidation risk increases as BTC struggles to reclaim $18K

Among the many most up-to-date was information that FTX sponsored crypto information outlet, The Block, by way of covert payments to its now former CEO, Mike McCaffrey.

Additional experiences 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 Wooden.

“That is simply the tip of the iceberg. What number of different journalists, lecturers, cash managers, politicians, charities, influencers, & lobbyists did he corrupt or co-opt?”

BTC/USD traded above $17,000 into the weekly shut, information from Cointelegraph Markets Pro and TradingView confirmed, with macro volatility due within the coming week.

BTC/USD 1-day candle chart (Bitstamp). Supply: TradingView

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