FTX Leader Was Not Supportive Of Centralized Crypto-Traders

According to C. Wood, CEO of ARK Investment company, the former FTX leader did not appreciate the idea of a redistributed nature of crypto.

Wood asserts that Sam Bankman-Fried is not in charge of Bitcoin, and M. Thaler, a former employee of FTX, claimed that the BTC network “undermined” the trader. 

The December report

In a December report, ARK Investment corporation’s CEO provided a fresh, scathing perspective on the infamous trader’s story on Twitter.

As the jural branches of the demise of FTX continue, proponents of BTC Bankman-Fried have not been particularly sympathetic.

The fact that ARK’s system is yet securely embedded, and demonstrates that the price of BTC has fallen by about twenty percent over the course of the month. 

The Bitcoin-based system hasn’t slowed down in the course of a crisis brought on by incomprehensible-centered exchanges and supporters.

Yet, Sam Bankman’s dislike of decentralized Bitcoin is understandable. The system is decentralized and transparent, and he has no power to stop it. 

Wood cited the most recent Bitcoin market roundup from ARK Invest, which showed that even after the recent setback, analysts like D. Puell are still optimistic about Bitcoin. It is now believed more than ever in the potential of a decentralized, open blockchain.

FTX is promoting openness and clarity as a countermeasure to the serious misdirection that might be linked to centered negotiators, particularly deceitful intermediaries, along with other examples like Celsius and Alameda.

The mismanagement

ARK has increased its exposure to other cryptocurrency companies feeling the effects of FTX’s demise, according to the news reports.

The Grayscale Bitcoin Trust (GBTC) is where we increased our stake most significantly. In November, GBTC stock totaled about 177,000 purchases. Info from Wood’s specific webpage indicates that number.

Bankman-Fried is still the star of the FTX story, which is being updated with fresh information.

One of the most recent reports stated that FTX secretly paid previous Chief executive officer M. McCaffrey to support cryptocurrency news site The Block.

Additionally, there are accusations that SBF purposefully undermined the Bitcoin blockchain to lessen the impact of FTX.