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Cathie Wood says that Bitcoin is too "decentralized" and transparent for Sam Bankman-Fried (former CEO of FTX).
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On Dec. 10, the chief executive at investment giant ARK Invest posted a new, damning assessment of the FTX saga in a tweet.
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Bitcoin loyalists show little sympathy for Bankman-Fried as the legal ramifications continue from FTX's fall.
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ARK's Wood is now firmly included, and she doesn't mince her words as the BTC price action continues its downward trend of around 20% over the month.
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She wrote that "The Bitcoin blockchain didn't skip a beat in the crisis caused by opaque central players."
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“No wonder Sam Bankman Fried didn’t like Bitcoin: it’s transparent and decentralized. He couldn’t control it.”
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Wood was linked to ARK Invest's latest Bitcoin market summary. In which analysts David Puell and Wood came out as bullish for BTC despite recent setbacks,
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It stated that "ARK's convictions in transparent and decentralized public blockchains are as strong as ever."
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ARK has increased its exposure to crypto firms suffering from the FTX collapse. It has also increased its holdings of Grayscale's Grayscale Bitcoin Trust (GBTC).
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