Katie Woodof the ongoing crisis FEDHe said that it is a failure of its policy and that it can be avoided by crypto decentralized solutions.
asset management company Cathie Wood, CEO of Ark Invest, He stated that cryptocurrencies act as a safe haven amid the ongoing bank crises in the US. wood, Silicon Valley Bank (SVB), Signatureand the recent collapse of others FEDattributed to policy failure.
Wood Presents Crypto as a Solution
USAAs the banking crisis continues in Bitcoin (BTC),And Ethereum‘Fame (ETH)The gains he experienced increased the gains in crypto money prices to double digits.
wood, March 16 In a post on Twitter, he criticized the Fed’s failure to prevent bank collapses. Wood, banks and regulators FED He said he was surprised that he couldn’t convince her that disaster was imminent. Wood argued that the main responsible for the ongoing banking crisis due to the liquidity crisis is the FED Policy.
For banks, security gains were only 1-2 percent versus 3-5 percent deposits, which became untenable as deposits began to exit the system. Some banks, such as the SVB, had to sell their held-to-maturity securities and suffered huge losses.
More comments on the topic woodsaid that regulators are using crypto as a scapegoat for their own shortcomings in the oversight of traditional banking.
woodHe further stated that the current banking crisis will not be possible in a decentralized, transparent, auditable and overcollateralized crypto ecosystem.
Katie Wood, along with these statements, presented crypto as a solution to the failures in the traditional financial system.
