{"id":523155,"date":"2023-03-15T08:48:50","date_gmt":"2023-03-15T08:48:50","guid":{"rendered":"https:\/\/ktsl888.com\/?p=523155"},"modified":"2023-03-15T08:48:50","modified_gmt":"2023-03-15T08:48:50","slug":"ark-invests-cathie-wood-claims-current-banking-crisis-was-inevitable","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ark-invests-cathie-wood-claims-current-banking-crisis-was-inevitable\/","title":{"rendered":"ARK Invest&#8217;s Cathie Wood Claims Current Banking Crisis Was Inevitable"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Cathie Wood, the founder of ARK Invest, an American investment management firm that invests in disruptive technologies, including exposure to cryptocurrencies, thinks the current banking crisis in the United States was inevitable.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">The U.S. Banking Crisis Was Coming: ARK Invest Founder<br \/>\n<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">In a tweet on March 14, Wood said the banking crisis was looming in plain sight and is blaming regulators for not taking timely steps to avert the problem.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">While the US banking system was seizing up in response to bank runs threatening regional banks, Bitcoin, Ethereum, and other crypto networks didn\u2019t skip a beat. Instability in the banking system threatened stablecoins, the on-ramps to DeFi, in stark contrast to regulator rhetoric <a href=\"https:\/\/t.co\/r5xwC96Pdj\" rel=\"nofollow\">https:\/\/t.co\/r5xwC96Pdj<\/a><\/p>\n<p>&mdash; Cathie Wood (@CathieDWood) <a href=\"https:\/\/twitter.com\/CathieDWood\/status\/07412997?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 15, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">In her assessment, regulators, including the United States Securities and Exchange Commission (SEC) and the rest, should block the proliferation of centralized finance (CeFi) platforms which she says are opaque.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/crypto\/signature-bank-closure-is-political-says-says-ex-congressman-a-strong-anti-crypto-message\/\">Signature Bank\u2019s Closure Is Political And A Strong Anti-Crypto Message, Ex-Congressman<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Moreover, the founder pointed out what she said were \u201cassets and liability duration mismatches\u201d that made banks distressed, especially as deposits ran low. In her view, bank deposits have been decreasing on a year-on-year basis for the first time in over a decade. With this combination, Wood thinks it was hard for the Federal Reserve and government to prevent a crisis from happening.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThey should have been all over the crisis that was looming in plain sight: asset and liability duration mismatches as short rates soared 19-fold in less than a year and deposits in the banking system were falling on a year-over-year basis for the first time since the 1920s!\u201d the founder said.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Bitcoin And Crypto Rally<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">At the heart of DeFi and crypto are stablecoins like USDC, the fiat-backed token issued by Circle, USDT issued by Tether Holdings, and DAI, an algorithmic stablecoin. All of them are central to the industry, acting as conduits of capital from traditional finance to the broader crypto ecosystem.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Cathie Wood said even as the government and the Federal Reserve scrambled to stem a banking collapse, decentralized networks like Bitcoin and Ethereum operated as usual. For the past five trading days, Bitcoin prices, for instance, have been on an uptrend, reaching as high as $26,300 on March 14, printing a new Q1 2023 high. Ethereum also remains firm, recovering from last week\u2019s losses.<\/span><\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/5ZFE8zQS\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/5ZFE8zQS\/\" alt=\"Bitcoin Price On March 15| Source: BTCUSD On Binance, TradingView\" width=\"1280\" height=\"595\"><\/a><figcaption class=\"wp-caption-text\">Bitcoin Price On March 15| Source: <a href=\"https:\/\/www.tradingview.com\/x\/5ZFE8zQS\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD On Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Since the banking chaos began, only USDC by Circle was temporarily impacted following their exposure to Silicon Valley Bank (SVB). Last week, the regional bank was placed under receivership by California authorities. Although USDC de-pegged, it is currently trading at parity with the USD.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/moodys-expect-u-s-banks-to-deteriorate-boon-for-bitcoin\/\">Moody\u2019s Expect U.S. Banks To Deteriorate, Boon For Bitcoin?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Despite the banking crisis being a boon for Bitcoin and other cryptocurrencies, the events of the past six months have been distressing for coin holders. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In November, following the collapse of FTX, a cryptocurrency exchange, Bitcoin crashed to register new 2022, falling to as low as $15,300. The DeFi and non-fungible token (NFT) ecosystems also contracted as activity dropped. However, in a <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/research.ark-invest.com\/hubfs\/1_Download_Files_ARK-Invest\/Big_Ideas\/ARK%20Invest_013123_Presentation_Big%20Ideas%202023_Final.pdf\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">report<\/span><\/a><span data-preserver-spaces=\"true\"> in early February, ARK Invest said Bitcoin would soar to as high as $1.48 million in seven years.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature Image From Canva, Chart From TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cathie Wood, the founder of ARK Invest, an American investment management firm that invests in disruptive technologies, including exposure to cryptocurrencies, thinks the current banking crisis in the United States was inevitable. The U.S. Banking Crisis Was Coming: ARK Invest Founder In a tweet on March 14, Wood said the banking crisis was looming in plain sight and is blaming regulators for not taking timely steps to avert the problem.\u00a0 While the US banking system was seizing up in response to bank runs threatening regional banks, Bitcoin, Ethereum, and other crypto networks didn\u2019t skip a beat. Instability in the banking system threatened stablecoins, the on-ramps to DeFi, in stark contrast to regulator rhetoric https:\/\/t.co\/r5xwC96Pdj &mdash; Cathie Wood (@CathieDWood) March 15, 2023 In her assessment, regulators, including the United States Securities and Exchange Commission (SEC) and the rest, should block the proliferation of centralized finance (CeFi) platforms which she says are opaque.\u00a0 Related Reading: Signature Bank\u2019s Closure Is Political And A Strong Anti-Crypto Message, Ex-Congressman Moreover, the founder pointed out what she said were \u201cassets and liability duration mismatches\u201d that made banks distressed, especially as deposits ran low. In her view, bank deposits have been decreasing on a year-on-year basis for the first time in over a decade. With this combination, Wood thinks it was hard for the Federal Reserve and government to prevent a crisis from happening.\u00a0 \u201cThey should have been all over the crisis that was looming in plain sight: asset and liability duration mismatches as short rates soared 19-fold in less than a year and deposits in the banking system were falling on a year-over-year basis for the first time since the 1920s!\u201d the founder said. Bitcoin And Crypto Rally At the heart of DeFi and crypto are stablecoins like USDC, the fiat-backed token issued by Circle, USDT issued by Tether Holdings, and DAI, an algorithmic stablecoin. All of them are central to the industry, acting as conduits of capital from traditional finance to the broader crypto ecosystem. Cathie Wood said even as the government and the Federal Reserve scrambled to stem a banking collapse, decentralized networks like Bitcoin and Ethereum operated as usual. For the past five trading days, Bitcoin prices, for instance, have been on an uptrend, reaching as high as $26,300 on March 14, printing a new Q1 2023 high. Ethereum also remains firm, recovering from last week\u2019s losses. Since the banking chaos began, only USDC by Circle was temporarily impacted following their exposure to Silicon Valley Bank (SVB). Last week, the regional bank was placed under receivership by California authorities. Although USDC de-pegged, it is currently trading at parity with the USD. Related Reading: Moody\u2019s Expect U.S. Banks To Deteriorate, Boon For Bitcoin? Despite the banking crisis being a boon for Bitcoin and other cryptocurrencies, the events of the past six months have been distressing for coin holders. In November, following the collapse of FTX, a cryptocurrency exchange, Bitcoin crashed to register new 2022, falling to as low as $15,300. The DeFi and non-fungible token (NFT) ecosystems also contracted as activity dropped. However, in a report in early February, ARK Invest said Bitcoin would soar to as high as $1.48 million in seven years. Feature Image From Canva, Chart From TradingView<\/p>\n","protected":false},"author":384,"featured_media":523158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8861,428,1946,7918,9449,16680],"class_list":["post-523155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ark-invest","tag-bitcoin","tag-ethereum","tag-federal-reserve","tag-us-government","tag-usdc"],"acf":[],"yoast_head":"\n<title>ARK Invest&#039;s Cathie Wood Claims Current Banking Crisis Was Inevitable<\/title>\n<meta name=\"description\" content=\"Cathie Wood, the founder of Ark Invest thinks the current banking crisis in the United States was inevitable.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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