Cathy Wood Predicts FTX Explosion Will Fuel A Crypto Sector That ‘Didn’t Skip The Beat’ – Bitcoin (BTC/USD)

ark investment management Founder and CEO Cathy Wood recently said One crypto sector will benefit from the FTX debacle.

during the recent InterviewWood said that the fall of ftx will promote decentralized finance (DeFi) network.

She said that decentralized networks will become increasingly important in the financial services industry after the bankruptcy of FTX and other crypto firms.

Wood added that users of the decentralized network can exit their trading positions and back in without any halving following a fall in crypto prices.

“We believe DeFi will get a boost from this because it is now clear – decentralized and transparent is the way to go. Those networks left no stone unturned. All their transactions were completed, and all kinds of metrics are saying That they’re getting stronger now,” Wood said.

Read also: Kevin O’Leary on why Blockchain will reveal the truth behind the FTX collapse: ‘It’s about to become clear’

Speaking of learnings from the FTX collapse, Wood said, “I think what we’re learning because of FTX is how much more fully transparent decentralized networks will be important to financial services going forward. FTX, Celsius and 3AC were all closed networks. opaque system. You couldn’t see what was happening.”

During an interview with Bloomberg in November, Wood said that FTX was a fraud but not like Lehman Brothers or bernie madoffAnd crypto will continue to grow.

Last week, Wood said that recent losses incurred by FTX and other major crypto firms strengthen infrastructure For Bitcoin BTC/USDTop cryptocurrency.

Photo: Courtesy of Shutterstock.

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