Cathie Wood: Regulators should not block well-functioning decentralized finance platforms, but should focus on the centralization and opacity issues emerging in the traditional banking system

ChainCatcher news, Ark Invest CEO Cathie Wood posted on social media: "While the U.S. banking system is paralyzed due to bank runs threatening regional banks, Bitcoin, Ethereum, and other crypto networks continue to operate unaffected. The instability of the banking system threatens stablecoins, which are the gateway to DeFi, contrasting sharply with the statements from regulators.

Regulators should not block decentralized, transparent, auditable, well-functioning financial platforms with no central points of failure, but should focus on the emerging centralized and opaque failure points within the traditional banking system.

They should have fully understood this obvious crisis: the mismatch of asset and liability durations, short-term interest rates skyrocketing 19 times in less than a year, and a year-on-year decline in deposits in the banking system for the first time since the 1920s." (Source link)